Gas production is set to increase by 20 million cubic feet as Oando Group announced plans to invest $36 million, about N7.2 billion, in the construction of three gas-compression plants in the country within the next one year. In an interview with Bloomberg in Lagos, Bolaji Osunsanya said the plants with an initial capacity of 20 million cubic feet of gas per day, are to be located in Aba, Abia State; Port Harcourt, Rivers State; and a third to be located in central Nigeria.

Oil marketing company, ConoilPlc, said it has placed orders for two new world-class, state-of-the-art bowsers to deepen its quality service delivery to domestic and international airlines operating in the nation’s airspace. The company said in a statement that the new bowsers have combined storage capacity of 62,000 liters and the ability to refuel aircraft at 1,500 liters per minute.

Until the Federal Government engaged various parties involved in the subsidy scheme for oil importation, there will be no end to the lingering fuel crises, according to the Chairman/Managing Director, Mobil Oil NigeriaPlc, Mr. Adetunji. A. Oyebanji. He made this known to journalists during the company’s Annual General Meeting in Lagos, for shareholders to consider and adopt its 2014 Annual Report & Accounts.

The new administration of President MuhammaduBuhari will have a lot to contend with over the next couple of months, as PriceWaterhouseCoopers, PwC, has raised fresh alarm that if crude oil price averaged $45 per barrel in 2015, Nigerian would be plunged into serious economic and financial crises.

Our expectation is for the new government to continue to sustain the growth of the oil and gas industry through favorable policies, because the industry right now is undergoing some major challenges. We are facing oil prices of about 50 percent of what they were last year and this is impacting directly on all the major projects and investments in the country.