The World Environment Day (WED) is a day set aside by the United Nations to encourage awareness and environmental protection. Every year, attention is focused on a theme that speaks to a particularly pressing environmental concern. The pandemic that the world has been dealing with for almost 1.5 years has shown how disastrous the consequences of ecosystem loss can be. By shrinking the area of natural habitat for mammals, we have created ideal conditions for pathogens. The fact remains that only with healthy ecosystems can we achieve sustainable balance and reverse climate change.
In the light of our rapidly changing ecosystem, it has become imperative to broaden the basis for an enlightened opinion and engender responsible conduct by enterprises in preserving the environment. In recent times, much of the blame has gone to Oil and Gas companies across the world. This is more so given the continued emission of toxic gases and chemical substances from oil extraction and other related activities which go on to pollute our environment. According to the United Nations report in 2011, it could take 25 to 30 years with an initial investment of $1 billion just for the first five years, to clean up the pollution from more than 50 years of oil operation in the Niger Delta, ranging from the disastrous impact on vegetation, contamination of wells, in a region that is home to some 1 million or more people.
On 11 March 2020, the World Health Organization declared COVID-19 a pandemic. The lockdowns that followed impacted crude oil demand and led to fluctuations in the international market price. Today, we find ourselves still in its grip, but vaccines developed at a record-breaking pace are making it possible to envision recovery. The details of that recovery aren’t yet clear. However, certainly, we will not return to the way things were. The pandemic has laid bare fundamental deficiencies in global systems and business operating models, but it has also unleashed energy and creativity as leaders seek solutions to these problems. Global emissions are set to bounce back more slowly but the world is still a long way from a sustainable recovery. A step-change in clean energy investment offers a way to boost economic growth, create jobs and reduce emissions. Unfortunately, this approach has not yet featured prominently in plans proposed by developing countries, except in the European Union, the United Kingdom, Canada, Korea, New Zealand, and a handful of other countries. Amid deep disruption and uncertainty caused by the pandemic, a surge in well-designed energy policies is needed to put the world on track for a resilient energy system that can meet climate goals. The global energy industry is moving towards renewables. Even the investors are taking out investable funds from the oil and gas sector and moving into renewables.
In this regard, the strategic importance of the Federal Government’s Gas Plan in addressing the energy challenges of Africa’s most populous nation, cannot be overemphasized. The government of President Muhammadu Buhari declared January 1, 2021, to December 31, 2030, as “The Decade of Gas Development for Nigeria”, heralding series of initiatives aimed at maximizing the nation’s gas potential. Under this plan, the development of Nigeria’s vast gas resources and strengthening of the gas value chain is the Federal Government’s national priority as encapsulated in the National Gas Policy of 2017.
This action has not only highlighted Nigeria’s quest for sustainable energy but has also given it a place in the global transitioning to cleaner and more efficient energy. The environmental threat of the oil and gas industry is recognized all over the world and the Nigerian government has shown commitment towards renewable energy. Subsequently, Energy companies such as Quest Oil Group are taking steps to curb environmental impact, primarily due to regulatory and shareholder obligations, otherwise known as ESG. In addition to providing clean energy, Quest Oil Group is making a conscious effort to bridge the gender gap in workplaces, maintain diversity and ensure the overall wellbeing of the employees. It has led to the adoption of stricter safety standards in its oil and gas operations to create a safer workplace environment. With a growing asset base and decades of experience in the Gas and Power sector, Quest Oil Group is positioning to become the leading clean energy provider in sub-Sahara Africa.
Quest, a value-driven energy company, provides eco-friendly and innovative services. Born out of a desire to establish itself as the mainstay in the Oil, Gas, and Power Industry, its major focus is to provide value-added solutions to the power, integrated energy, and engineering problems of the world. A decade down the line, the company has made strategic and productive investments that have resulted in significant improvement in its performance and service delivery, thereby increasing its stakeholder satisfaction level. Quest started as a gas and Power Company offering said services to manufacturing plants and offering Autocare services in partnership with some local dealerships. In 2019, it expanded its downstream capabilities and assets by venturing into a strategic alliance with ASCON Oil Company Limited.
This alliance led to the ongoing overhauling, restructuring, and rebranding of Ascon to Quest, an action that falls under the initial goal of integrating all of its offerings under the Quest umbrella. This rebranding effort has contributed to boosting its customers, stakeholders, and investors’ confidence in the new Quest Retail brand amongst others, as well as position it as a thought leader in the energy sector. As the pandemic continues to accelerate the global push to sustainability and greener economies, Quest Oil Group is increasingly involved in ESG initiatives to show environment-and-social-conscious investors that they could be a part of the solution, not the problem, to the climate issues.
By providing affordable, clean, and efficient power for facilities, Quest Gas and Power is prioritizing cost optimization in the power sector, and providing gas infrastructural development through the deployment of natural gas and power generation infrastructure including gas pipelines, LPG, and CNG.
In a bid to strengthen competency level across EPCI project operations in the country, and effectively close the skills gap, Quest Oil Group has setup the Quest Engineering and Technology Institute, offering a portfolio of courses covering Engineering Design, Onshore & Offshore operations, and Decommissioning for oil and gas assets.
Dele is the group chief executive officer, Quest Oil Group
