Nigeria: Lagos Authorities Plan New Oil and Gas Company
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Friday, 19 October 2012 |
Authorities in Lagos, Nigeria are preparing to present a bill to the city's parliament with the view of setting up a state oil company in the city. Setting up the new firm, which would do business under the name Lagos State Oil & Gas Co, will also be subject to the approval of the public, who will air their thoughts on the idea at a public meeting on the matter that will be held before the vote in the Lagos State House of Assembly.
The new company will mainly cater for the country's downstream interests, with petroleum product retailing, gas retailing and laying pipelines among the duties it will be tasked with. No oil or gas discoveries have been made around Lagos for the company to explore, leaving questions surrounding the job any upstream business could be charged with.
PetrolWorld 19102012
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