FG admits oil demand from US, Europe, Middle East outstrips supply - Businessday NG

… races to expand oil, gas capacity as global buyers seek more crude

…industry warns country cannot afford to miss next geopolitical windfall

…Oil firms decry multiple taxes, seek PIA review as Nigeria joins IEA

The Federal Government on Tuesday admitted that Nigeria is struggling to meet growing international demand for its crude oil despite recent gains in production, as industry leaders warned that the country risks missing future geopolitical windfalls unless it rapidly expands production capacity, gas infrastructure and domestic industrialisation.

Speaking at the opening of the 25th Nigerian Oil and Gas (NOG) Energy Week in Abuja, Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), disclosed that countries across the United States, Europe and the Middle East have approached Nigeria seeking crude supplies amid continuing global energy market disruptions.