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- Royal Dutch Shell Nigeria made a net profit of US$20.1 billion from its operations in 2021. The Shell Nigeria Gas (SNG) received praise from industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for its active investment in the nation’s critical gas infrastructure
- The investment will help augment supply of gas for powering industries in key locations in the country
- Shell surged back into profit last year as oil prices recovered. The demand also picked up, which was slowed down considerably during the pandemic days
Royal Dutch Shell Nigeria made a net profit of US$20.1 billion from its operations in 2021. The Shell Nigeria Gas (SNG) received praise from industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for its active investment in the nation’s critical gas infrastructure. The investment will help augment supply of gas for powering industries in key locations in the country.
Shell surged back into profit last year as oil prices recovered. The demand also picked up, which was slowed down considerably during the pandemic days. Shell recorded a loss after tax of US$21.7 billion in 2020. Shell said it planned a share buyback programme totaling US$8.5 billion (7.5 billion euros). Nigeria needs accelerated gas infrastructure to deepen domestic gas distribution across Nigeria and plans are underway to enhance the gas network and production.
Shell Nigeria Gas is investing heavily in critical gas infrastructure to supply gas for power generation to industries. The agency is putting in place the right framework to encourage competition, competitive prices, flexibility of supply and investments in gas infrastructure.
Royal Dutch Shell Nigeria made a net profit of US$20.1 billion from its operations in 2021. The Shell Nigeria Gas (SNG) received praise from industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for its active investment in the nation’s critical gas infrastructure. The investment will help augment supplyof gas for powering industries in key locations in the country.
Shell surged back into profit last year as oil prices recovered. The demand also picked up, which slowed down considerably during the pandemic days.
