{"id":222738,"date":"2022-10-19T06:15:26","date_gmt":"2022-10-19T05:15:26","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=222738"},"modified":"2022-10-19T06:15:26","modified_gmt":"2022-10-19T05:15:26","slug":"nuprc-energy-transition-may-threaten-job-security-stifle-investment","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/10\/19\/nuprc-energy-transition-may-threaten-job-security-stifle-investment\/","title":{"rendered":"NUPRC: Energy transition may threaten job security, stifle investment"},"content":{"rendered":"<p>Chief Executive Officer (CEO) of Nigerian Upstream Petroleum Regulatory Comission (NUPRC), Gbenga Komolafe has disclosed that most international oil companies (IOCs) will divert from onshore oil assets in next few years as calls for energy transition persist.<\/p>\n<p>This was made known on Tuesday by Komolafe\u00a0during his keynote address at the <span class=\"acssf62a8\">maiden Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) annual conference tagged \u2018energy and labour\u2019 summit.<\/span><\/p>\n<p><span class=\"acssf62a8\">Komolafe spoke on the topic \u2018energy transition and its effects on the Nigerian workforce\u2019.<\/span><\/p>\n<p><span class=\"acssf62a8\">He said the divestment would affect job security, adding that it would be largely driven by crude oil theft as well as underinvestment.<\/span><\/p>\n<p><span class=\"acssf62a8\">Komolafe, therefore, asked indigenous players to grasp the opportunity to employ competent professionals in the sector.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cFundamentally, it is important to note that within the next few years most IOCs shall divest from onshore oil and <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/10\/02\/nnpc-acquires-downstream-assets-of-ovh-energy\/\">gas assets<\/a> due to poor return on investment as a result of crude oil theft and this may pose threat to job security,\u201d he said.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cHowever, it is expected that indigenous players would leverage on this to recruit experienced professionals who will in turn grow local capacity, in addition indigenous players are urged to take advantage of the predictable licencing rounds as enshrined in the PIA and relevant regulations to form big mega companies that will grow in-Country capacity and also expand outside the shores of Nigeria\u201d\u00a0<\/span><\/p>\n<p><span class=\"acssf62a8\">Komolafe\u2019s statement comes on the back of divestment moves by IOCs, including Total Energies, Shell and ExxonMobil.<\/span><\/p>\n<p><span class=\"acssf62a8\">Further speaking, NUPRC boss admitted that energy transition was valid, however, the timing is uncertain.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cEnergy transition may threaten job security and stifle investment in the Nigerian oil and gas industry,\u201d Komolafe said.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cHowever, I align fully with the policy of government which is hinged on ensuring that we utilise our huge gas resources as a transition fuel towards cleaner energy sources.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cFor the government, we must utilise our hydrocarbon resource for industrialisation and economic growth.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cThe PIA, its corresponding regulations and government policies have the capacity to build a resilient and sustainable oil and gas industry that will latch onto critical socio-economic factors across the world to increase gas production, build a robust gas infrastructure that will entrench Nigeria as a gas hub across Africa and Europe all these will in turn create more jobs and attract investment across the petroleum value chain for the benefit of the Nigerian workforce.\u00a0<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cUltimately, as the energy transition draws closer, the government will develop robust just transition policies that will provide guidelines on how oil and gas professionals can leverage on their core technical expertise to pivot to other clean energy sources.\u201d\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chief Executive Officer (CEO) of Nigerian Upstream Petroleum Regulatory Comission (NUPRC), Gbenga Komolafe has disclosed that most international oil companies (IOCs) will divert from onshore oil assets in next few years as calls for energy transition persist. This was made known on Tuesday by Komolafe\u00a0during his keynote address at the maiden Petroleum and Natural Gas [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":222751,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[16587],"tags":[37523,48396,33547,40533],"class_list":["post-222738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-energy-transition","tag-exxonmobil","tag-nuprc","tag-pengassan"],"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\/ 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