Friday, 16 December 2016

FG confirms discovery of oil in Borno

The federal government says it has discovered crude oil in Borno.

Permanent secretary, Ministry of Petroleum Resources, Dr. Jamila Shua’ra, made the disclosure on Thursday during her welcome address at the presentation of the 2016 petroleum sector scorecard held at the auditorium of the Petroleum Technology Development Fund (PDF) in Abuja yesterday.

According to her, the discovery of crude oil in Borno was one of the achievements of the ministry during the year, saying, “Our doggedness culminated in the discovery of oil in new frontiers – Lagos and Borno.”

Speaking further she said, “Today, as a team, we have recorded commendable achievements in our sector: the introduction of the PMS Price Modulation Matrix; the availability of PMS in all outlets; eradication of payment on fuel subsidies; located foreign direct investment to finance midstream oil and gas infrastructure; adopted exit strategies on Joint Venture Cash Call; robust engagement of host communities to reduce agitations; creation of more stable industrial relations.”

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