As Dangote/NNPC Rift Continues, Nigeria-based Atlas Oranto Signs Agreement With Venezuelan Oil Company To Develop Gas Reserves Despite Sanctions
The Oasis Reporters
August 11, 2024
Signs that ebullient Nigerian people’s ingenuity to show that the fortunes of the nation can change if the fetters holding down businesses can be lifted has manifested in Venezuela.
“The Venezuelan state-owned oil company, PDVSA (their NNPC equivalent), and Veneoranto Petroleum Ltd (a subsidiary created in Venezuela by Nigeria-based Atlas Oranto) signed an agreement to develop two natural gas prospects in the areas of Barracuda, located in territorial waters of the Gulf of Venezuela bordering Colombia, and Boca de Serpiente”, says a post on X (formerly known as Twitter) by Professor Ndubuisi Ekekwe.
“I am pleased that the investment process for gas production from the Deltana platform has been accelerated…With these investments we will be the fourth natural gas reserve, it is important that investments keep flowing. We are reliable safe partners,” said Venezuelan President Nicolás Maduro, who was present at the signing of the agreement August 8 in Caracas” continued the report.
Professor Ekekwe further congratulates Arthur Eze for taking Atlas Oranto global.
“It is about time Nigeria creates multinational oil and gas upstream companies. I posit that with all the sanctions against Venezuela, this could be a high margin endeavour”.
Meanwhile, Africa’s leading billionaire, Aliko Dangote has faced troubling bottlenecks in his bid to be a crude oil refiner.
Nigeria is Africa’s leading producer of crude oil but the country exports crude oil while it imports refined petroleum products.
Breaking that stronghold has been the paradox of Nigeria’s development.
Aliko Dangote built a refinery with a lot of money. The idea behind it was for the crude oil that is abundant in Nigeria to be refined in the country, not only to satisfy domestic demand, but have some for export, thereby boosting revenue for the economy.
But the Nigerian state oil corporation, NNPCL is suspected to be dithering on the supply of Crude oil to Dangote refinery.
People in the country need the belief that Nigeria can be allowed to work for it’s own people through the hard work and ingenuity of it’s own citizens for this will stem the continuous mass exodus of Nigerians to Europe and the Americas.
Let Nigeria breathe.
