{"id":35575,"date":"2022-07-20T11:57:01","date_gmt":"2022-07-20T11:57:01","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=35575"},"modified":"2022-07-20T11:57:01","modified_gmt":"2022-07-20T11:57:01","slug":"increasing-storage-capacity-will-resolve-fuel-scarcity-equatorial-guinea","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/07\/20\/increasing-storage-capacity-will-resolve-fuel-scarcity-equatorial-guinea\/","title":{"rendered":"Increasing storage capacity will resolve fuel scarcity \u2013 Equatorial Guinea"},"content":{"rendered":"<p><a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/01\/21\/un-lauds-nigeria-over-successful-prosecution-conviction-of-pirates\/\">Equatorial Guinea<\/a>, says increasing storage capacity of refined oil and gas products is a viable solution to resolving the challenge of fuel scarcity.<\/p>\n<p>Mr Gabriel Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, made this known on Wednesday, while responding to questions from journalists, during a Media briefing organised by the country\u2019s embassy in Abuja.<\/p>\n<p>Lima said that African countries could emulate this mode of operation from developed countries, who were not oil producing nations, but did not face the challenge of fuel scarcity.<\/p>\n<p>The Minister explained that with increased storage capacity, countries would have enough to release for citizens for use until the challenge of that moment was resolved.<\/p>\n<p>\u201cOne of the things that we are missing is not the issue of refining capability, but the issue of storage.<\/p>\n<p>\u201cWhat we need to do is look at countries like the <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/07\/05\/police-in-northern-france-detain-people-smugglers-and-migrants\/\">Netherlands<\/a>, the United States; whenever they have problems, they do not just focus on the refining capabilities, what they do is to release storage.<\/p>\n<p>\u201cSo what one needs to evaluate is; \u201chow can the Netherlands, being a small country, have sufficient supply of what they do not produce?<\/p>\n<p>\u201cThe reason is that they have a big tank farm of storage.<\/p>\n<p>\u201cSo the storage capacity is very important. The idea is for you to have a storage that could last for six months to one year.<\/p>\n<p>\u201cOne of the things we have done in Equatorial Guinea is, because of non viability of refineries for our light crude, we have focused on increasing our capacity of stocking, which is the most important thing.<\/p>\n<p>\u201cThe more storage that you can build, the more you can save, so I think strategic stocking in different places like European does, will solve the problem of fuel scarcity.<\/p>\n<p>Lima therefore, recommended that Nigeria looked into adopting the same storage method to curb the incessant fuel scarcity in the country.<\/p>\n<p>\u201cNigeria is a very big country, and I think the solution for us is to increase the capacity of storage,\u201d he said.<\/p>\n<p>The minister decried the lack of an functional refineries in Nigeria and Equatorial Guinea, noting that this was in spite of the fact that Africa\u2019s crude was very light, compared to other European countries.<\/p>\n<p>He reiterated that expanding storage capacity was still the viable solution to ending fuel crisis in African countries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Equatorial Guinea, says increasing storage capacity of refined oil and gas products is a viable solution to resolving the challenge of fuel scarcity. Mr Gabriel Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, made this known on Wednesday, while responding to questions from journalists, during a Media briefing organised by the country\u2019s embassy in [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":35584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[7],"tags":[6728,217],"class_list":["post-35575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-developed-countries","tag-journalists"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Increasing storage capacity will resolve fuel scarcity \u2013 Equatorial Guinea &#187; BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/07\/20\/increasing-storage-capacity-will-resolve-fuel-scarcity-equatorial-guinea\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Increasing storage capacity will resolve fuel scarcity \u2013 Equatorial Guinea\" \/>\n<meta property=\"og:description\" content=\"Equatorial Guinea, says increasing storage capacity of refined oil and gas products is a viable solution to resolving the challenge of fuel scarcity. 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