The Department of Petroleum Resources (DPR) has said Nigeria has lost its most valued crude oil buyers as its former gas customers are battling with it.
This statement came from the Director, DPR, Mordecai Ladan on Monday at the 18th edition of the International HSE Biennial Conference on the Oil and Gas Industry in Nigeria.
According to Ladan, “Over the years, the threat against fossil fuels had always been on paper, but today, it is more real than ever, based on some clear evidence I like to draw our attention to.”
He added that “Not only did the first two releases of Tesla outsell sales forecasts, but they were also actually oversubscribed, and the demand keeps rising while new models are being added.
“As we speak, some of the big international oil companies here seated are funding gigantic researches into alternative fuels, which include the use of cheap, common algae.”