Chairman of the Nigeria national petroleum company limited, NNPCL, Mele kyari says Compressed natural gas should be treated as the new oil in Nigeria, to reduce dependencies on petrol and erase the hike in fuel price.
Kyari said this today at the energy and labor summit organized by PENGASSAN, stating that the company is actively working out modalities to transition from fuel to CNG.
According to him, refining crude in Nigeria is essential for commodity security but does not guarantee a total collapse in price of petrol, stating that international factors play a major role in the price of oil price.
He also stated that the issue of reducing greenhouse emissions will be addressed in the process of energy transition as Africa only contributes to three percent of global emissions.
