Oil prices may be fluctuating, and that is a problem for Nigeria.

But even worse is the fact its most valued customers have deserted them.

According to the Department of Petroleum Resources, DPR which stated this on Monday, November 26th, Nigeria has lost its most valued crude oil buyers, even as its erstwhile gas customers are now competing with it.

The Director of DPR, Mr Mordecai Ladan, said the oil and gas industry seemed to be under a new threat, which he described as the renewed dislike and global war against fossil fuels and the quest for renewable and cleaner energy.

“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 said at the 18th edition of the International HSE Biennial Conference on the Oil and Gas Industry in Nigeria.

Also Read: Why America May Never Import Nigerian Crude Oil – Kachikwu

He said three among the biggest technology companies, including Google and Apple, had made attempts at electric cars to replace petrol and diesel engines, with that of Tesla taking the world by surprise.

Ladan said: “Not only did the first two releases of Tesla outsell sales forecasts, they were 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.”

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