Niger Delta crisis caused the daily output of Nepalese crude oil continued to decline
According to a report released by the Central Bank of Nigeria, the restlessness of young people in the Niger Delta region continues to damage the Nigerian economy, which has cut crude oil production to 181 million barrels per day in April, the Commerce Daily reported. In December 2007, Nepal crude oil production was 221 million barrels per day, to January this year, daily output fell to 220 million barrels, in March fell to 200 million barrels. This development, Nigeria is difficult to achieve in 2008 the daily output of 2.45 million barrels of crude oil target. The continued attacks on oil companies by the armed groups caused international crude oil supply to become one of the reasons why Iran and the Iraq crisis pushed crude oil prices above $ 125 a barrel.
Nigeria to Build First Biofuel Processing Plant
Nepal to build the first biofuel processing plant, Osun, Kwara, Kogi, Niger, Kaduna, Ekiti and Oyo will benefit from the seven states.
Global Biofuels LLC, a subsidiary of NeGSt, will invest a total of $ 560 million to build a production plant in each of the seven states and is expected to create 406,000 jobs. The completion of these projects will directly reduce the pressure on Nigeria's fuel imports and improve the living standards of Nepalese people.
Nigeria's National Petroleum Corporation (NNPC), which supports biofuel projects, has offered to work with investors preparing to enter the sector.
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