Oil and Gas Press [19/10/12]
Lagos state government is working to establish a state-run oil and
gas firm. The firm, to be named the Lagos State Oil & Gas Corp.
(LOGASC), is being formed to enter the energy sector in hopes of
generating more income for Lagos State.
A bill to establish LOGASC has been prepared, and members of the
Lagos State House of Assembly invited stakeholders and the general
public to a public hearing on the bill Monday.
On a partnership-based effort with the private sector and federal
agencies, Lagos would through the corporation invest in all midstream
and downstream oil and gas activities, including all gas processing
businesses, petroleum products retailing, gas retailing, gas pipelines
deployment, and acquisition of petroleum products tank farms and other
distribution facilities.
Lagos has yet to officially report any oil discoveries however
BusinessDay reported Lateef Raji, Special Adviser on information and
strategy to Lagos state governor Babatunde Fashola. “… I can confirm to
you that oil has been discovered within this belt, yet to be exploited,”
Raji said.
source: http://www.petroleumafrica.com/en/newsarticle.php?NewsID=14439
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