NNPC gets Senate praise for birthing competitive oil industry

To support NOC in frontier exploration

NATIONAL OIL COMPANY, NIGERIAN NATIONAL PETROLEUM COMPANY NNPC LIMIT ED, HAS RECEIVED PRAISE from the senate committee on petroleum resources (upfor birthing a competitive oil and gas industry for Nigeria through enabling a competitive business environment for the industry.

Bassey Albert Akpan, senator and chairman of the committee, gave the commendation when he led members of the committee on an oversight visit to the NNPC Towers, Abuja, recently.

According to the senator, the visit offered members of his committee, the lawmakers, the opportunity to have firsthand information about management’s actions in transitioning from a corporation into a limited liability company in compliance with the Petroleum Industry Act (PIA).

“We commend the effort of Mele Kyari and his team towards repositioning NNPC post-PIA. We’ve been told about the challenges, the expectations, projections and visions for NNPC. We are very impressed that the effort of the National Assembly in passing the PIA is yielding positive outcomes,” senator Akpan said.

He assured that the committee would look into the issue of funding for frontier exploration in order to ensure that the objective of boosting exploration and production in frontier basins in the next five years is met.

Mele Kyari, chief executive officer, NNPC Limited, told members of the committee that the company is well primed to meet the growth trajectory envisaged in the PIA, stressing that it has received very positive commercial assurances from investors and partners across the globe.a