Petroleum engineers seek investments in refineries
The Society of Petroleum Engineers (SPE), Lagos section 61, has urged the Federal Government to create conducive operating environment that would spur investors to float private refineries in Nigeria. The in-coming president, SPE, Lagos Section 61, Ernest Mkpasi, who made this challenge during the 2015 yearly General Meeting in Lagos, said the association is keen to experience improved fuel distribution across the country. “
Like most Nigerians, we will like petroleum products to be available. For people to invest in refineries and make fuel available, the environment needs to be conducive and so the laws should be amended such that prospective investor will be attracted to Nigerian market,” he said.
The meeting also inducted new board members for the 2015/16-service year, and awarded some deserving members including students and professionals who have distinguished themselves in the industry. Mkpasi, said: “We go ahead to also impact the society we operate in by implementing programmes in different communities that needs our presence through our volunteerism, which is what we stand for.”
The out-going president of the society, Okwuoma Nnajiofor, noted that his administration did not fail to expand their activities in community service and improve capacity development of student chapters in line with the SPE strategic plan. “We launched our partnering workshop initiative conceptualized to identify cutting edge technologies currently in use overseas and make efforts to transfer them to Nigeria for the benefit of indigenous oil and gas industry and Nigeria.
This requires team work to deliver on areas of optimizing oil production and upstream projects in the face of declining oil price and refining solutions” He however noted that giving students an insight of the industry will help build capacity which bore forth the YP career bridging the gap between academia and the industry adding that his administration was also involved with an energy outreach progrmame, Energy4Me series which focuses on empowering communities on energy related issues.
The financial statement of the society however showed the current asset stood at N16 million as against N19 million in 2014. Mkpasi attributed the plunged earnings to the drop in crude oil price which has also affected companies operating in the industry forcing them to engage in cost reduction initiatives.