BY KUNLE KALEJAYE with agency report
Shale boom race has gotten a new entry, Australia, according to a new analytical report, stating that all eyes would be on the country as it could turn out to be the most attractive venue for shale and tight oil and gas.
Meanwhile, Nigeria’s non-passage of its Petroleum Industry Bill, PIB, has continued to stall investment in the petroleum industry even as its petroleum minister was recently appointed as the alternative OPEC president
Apart from the non-passage of PIB, political upheaval, insecurity, lack of infrastructure development in Nigeria, has made potential investors to lose confidence in the system.
However, analysts in Nigeria’s petroleum sector are confident that the bill will be passed before the end of 2014, as earlier predicted.
According to Oilprice Intelligent Report, China, Russia and Argentina, have topped the list of potential venues for the next shale boom in recent time.