The Nation Newspaper

Tag: Mr Ndu Ughamadu

  • Buhari’s re-election will guarantee refinery revamping – NNPC

    The Nigerian National Petroleum Corporation (NNPC) says the re-election of president Muhammadu Buhari will help to facilitate the revamping of the nation’s refineries.

    Mr Ndu Ughamadu, NNPC Group General Manager, Group Public Affairs division told the News Agency of Nigeria( NAN)  in Abuja that the president had been supportive to the corporation.

    “The reelection of president Buhari is a welcome development to the corporation. As the Minister of Petroleum he has been very supportive.

    ” His reelection means that more support will come for the work the corporation is doing.

    “He has been very supportive with all the work going on in ensuring the revamping of the three refineries and has directed the corporation to ensure exploration of oil in the frontier inland basin, ” he said.

    Ughamadu noted that in product supply, the corporation had witnessed the president’s support in which the nation had continued to have adequate supply of products.

    “In gas production, the president gave the corporation all the support it needed especially with the Ajeokuta Kaduna Kano(AKK) gas pipeline project.

    “For us, his coming back is a welcome development and the industry at large is happy with it,” he said.

    The NNPC General Manager, Security, Mr Sam Otobueze also said that the re-election of president Buhari was no doubt a happy survival to NNPC.

    “It is a sigh of relief to the staff, burdened by uncertainties of the future, ” he said.

    Mr Sumaila Abdullahi, an oil marketers told NAN that the re-election of Buhari for a second term in office would go along way to consolidate some of the modest gains recorded in the Oil and Gas Industry.

    “To start with, the stable supply of petroleum products have come to stay and fuel scarcity is now a thing of the past.

    ” The seven big wins of the Ministry of Petroleum Resources will definetely be taken to the next level and this stability in policy drive would boost investor confidence and attract more investors into the industry.

    “The re-election of Mr. President will likely boost exploration of Oil and Gas in the frontier inland basins,” he said. (NAN)

  • No plans to hike petrol price – NNPC 

    No plans to hike petrol price – NNPC 

    The Nigerian National Petroleum Corporation (NNPC) Monday  said that  it has no plan to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide.

    The NNPC in a release informed that the ex-depot petrol price of N133.38 per litre and the pump price of N143/N145 per litre have not changed noting that the Corporation has enough stock of fuel to ensure seamless supply and distribution of products across the country.

    While enjoining motorists and other users of petroleum products to disregard trending rumours of an impending fuel price hike in some online news platforms, the NNPC said it has the full commitment of all downstream stakeholders including petroleum marketers and industry unions to cooperate in achieving zero fuel scarcity this season and beyond.

    Its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu disclosed this in a statement.

    The explanation followed the emergence of petrol scarcity in Abuja.

    Most of the sales outlets including the Corporation’s affiliate stations were not opened to customers.

    This resulted in long queues around petrol stations in the federal capital territory.

    The NNPC however enjoined motorists not to engage in panic buying or indulge in the dangerous practice of stocking petroleum products in jerry cans at home.

    The Corporation noted that its downstream subsidiary companies namely the Petroleum Products Marketing Company (PPMC) and NNPC Retail Limited are fully geared up to ensure that motorists enjoy uninterrupted access to petrol throughout the nation.

  • Nigeria’s gas fare rate reduces to 12 percent 

    Nigeria’s gas fare rate reduces to 12 percent 

    The Gas flare rate in Nigeria stands at 12.00 per cent, the Nigerian National Petroleum Corporation (NNPC) Monthly Financial and Operations Report for August has revealed.

    The monthly report which was released Wednesday in Abuja said that the 12.00 per cent gas flare rate which translates to 919.73mmscfd was at August 2017 compared to 10.03 per cent for the preceding month of July 2017.

    NNPC’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu mad this known in a statement yesterday.

    According to the statement, Nigeria was among countries with highest gas flare rates, but a number of Clean Development Mechanism (CDM) projects aimed at appropriate gas utilization have improved the country’s standing in this the regard.

    The report gave an average gas flare rate of 10.15 per cent, which is 734.56mmscfd, for the period August 2016 to August 2017.

    The monthly report also showed that despite enormous challenges facing the downstream sub-sector of the Petroleum Industry, the NNPC has continued to maintain adequate products supply nationwide.

    It attributed the success story to strategic interventions by the Corporation in respect of Automotive Gas Oil (AGO) supply, revamp and re-commissioning of critical pipelines and depots across the country, as well as robust engagement with critical Downstream stakeholders, among which are Major Oil Marketers Association of Nigeria, (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers Association of Nigeria (PTDAN) as well as the Independent Petroleum Marketers (IPMAN).

    The NNPC informed that Products pipeline breaches stood at 70 points for the month of August 2017 out of which 62 pipelines were vandalized.

    The strategic Port Harcourt-Aba pipeline was singled out as a major culprit, accounting for 46 vandalized points (or 74 per cent of total recorded cases).

    To tackle the challenge, the Corporation in collaboration with Federal Government has continued to engage members of various host communities to stem incidences of pipeline infractions.

    The NNPC Report also listed security synergy with IOCs as part of the steps taken to stem oil and gas sabotage which involved deployment of a structured and holistic security apparatus in operational areas.

    The NNPC report further revealed that 950.67 million litres of white products were distributed and sold by the Petroleum Products Marketing Company, PPMC in the month of August 2017. Although the figure was lower than the 1,121.92 million litres in the preceding month of July 2017, yet it was enough to ensure adequate supply of petroleum products.

    A further breakdown down of the figure indicated that Premium Motor Spirit, otherwise called petrol distributed during the period was 814.02 million litres, Dual Purpose Kerosene (DPK), or kerosene supply stood at 59.92 million litres, while 76.73 million litres of Automotive Gas Oil or diesel was also distributed to the domestic market during the period under reference.

    The report indicated that special products supplied for the month of August 2017 was 11.09 million litres, comprising 10.13 million litres of Low Pure Fuel Oil, LPFO and other special products of 0.96 million litres.

    The August 2017 NNPC Financial and Operations Report is the 25th edition of the series.

    Read Also: NNPC stocks N2b liters of petrol

  • Oil production dips to 1.3mbd over vandalism, says NNPC

    Oil production dips to 1.3mbd over vandalism, says NNPC

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that an average of 700,000bpd of crude oil was deferred in 2016 due to pipeline sabotage, saying this brought Nigeria’s production down to as low as 1.3 million barrels per day from 2.2 million barrels targeted for the period.

    The NNPC GMD, who stated this in a keynote address at the maiden edition of the Nigerian International Pipeline Technology and Security Conference (NIPITECS 2017) in Abuja yesterday, said Year-To-Date 2017, NNPC had recorded twenty–seven (27) breaching incidents on the Trans Niger Pipeline (TNP), adding that for the Trans Forcados Pipeline (TFP) with a capacity of 300,000bpd, seventeen (17) breaches were recorded in 2016.

    He declared that Year-To-Date 2017, NNPC had suffered at least fifteen (15) breaching incidents on the TFP, while charging members of the Pipeline Professionals’ Association of Nigeria (PLAN) to conduct a systematic diagnosis of the pipelines system in Nigeria and come up with sustainable and actionable solutions to the menace of pipeline vandalism in the country.

    The Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu disclosed this in a statement on Wednesday.

    He urged all key players to rally round the Pipeline Professionals to proffer solutions to the pipeline vandalism challenge as it posed a great threat to the Nigerian economy in terms of revenue loss and environmental degradation.

    The statement quoted Baru as saying that: “The foregoing summarizes the effect of pipeline vandalism and therefore underscores the importance of protecting our pipeline system and treating them as National Assets… On the strength of that, we must endeavor to carry out a systematic diagnosis and proffer workable, practicable and actionable solutions that will guarantee sustainability of pipeline infrastructure.”

    He listed some of the measures deployed by NNPC to stem the tide of pipeline vandalism to include: Horizontal Directional Drilling (HDD) technology to bury pipelines deeper to prevent easy accessibility; technology-based pipeline surveillance mechanism with capability to detect, alert and deny access; and aerial monitoring and marine patrols by the Military Joint Tax Force (JTF).

    Dr. Baru further said government was working out a political solution to the socially-induced-agitation sabotage while the law enforcement agencies had been empowered to deal with those who engage in pipeline vandalism out of criminality such as oil theft.

    Speaking earlier on the significance of the conference, Chairman of PLAN, Engr. Geoff Onuoha, said considering the critical role of pipelines to the entire value chain of the oil and gas industry, there was need for a forum like NIPITECS to bring professionals and stakeholders together to brainstorm and share knowledge and technology.

    The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, who also spoke at the occasion, said the Board was working hard to boost local production of pipes, adding that its efforts were already yielding dividends as Nigeria now has two world class pipe mills in full operation.

    On his part, the Director General of Infrastructure Concession Regulatory Commission (ICRC), Engr. Chidi Izuwah, challenged industry players to tap into the opportunities in Public Private Partnership (PPP) to boost pipeline and other infrastructures in the country.

  • NNPC moves to safeguard pipelines

    NNPC moves to safeguard pipelines

    The Nigerian National Petroleum Corporation (NNPC) says it has marked its pipelines to avert vandalism and fire outbreaks to sustain the current steady supply of petroleum products nationwide.

    The Group Managing Director of the NNPC, Dr Maikanti Baru, said this while receiving a delegation of the Occupational Safety and Health Association, (OSHA) UK, Nigeria Chapter, at the NNPC Towers, in Abuja on Tuesday.

    In a statement by Mr Ndu Ughamadu, NNPC Group General Manager, Group Public Affairs Division, Baru said the corporation would continue to monitor its pipelines and collaborate with the law enforcement agencies to safeguard such critical national asset.

    He said that in line with safety standards, NNPC pipelines right-of-way across all locations were clearly marked to keep the public away from the facilities so that they do not come to harm.

    ”In our various pipelines running across several kilometers and locations, right-of-way is indicated to show that people should not tamper with the facility because of the danger that is involved.

    ”This is done to ensure that when there is safety breach, we have access to the affected spot and intervene accordingly.

    ”We will use this opportunity to call on pipeline vandals to please keep away from our pipeline because they are not carrying liquid that can easily be handled like water.

    ”We are calling on the general public that when they see the sign on the pipeline, they should not tamper with it in their own interest and that of the nation,” Baru said.

    He said any vandal would be handed over to law enforcement agents to face appropriate sanctions, adding that in the Port-Harcourt–Aba pipeline incident, one suspect was apprehended and handed over to the authorities.

    Baru urged members of the public to support NNPC by reporting any suspicious activity around pipelines and other oil and gas facilities, stressing that the Corporation, on its own part, would do everything possible to ensure the safety of lives and property around its facilities.

    Speaking , the leader of the delegation and Regional President of OSHA, Nigeria Branch, Dr Dalhatu Ahmed, stated that the purpose of the visit was to carry Baru along in the drive to ensure safety of workers and equipment in view of the position occupied by the NNPC as one of the largest employer of labour in the country and major revenue-earner.

    Ahmed lauded the NNPC boss for his numerous initiatives at ensuring the safety of staff and assets across the corporation’s value chain.

    “I want to commend the efforts of the GMD as far as safety of lives and property is concerned in the corporation.

    ”It is interesting to see that the NNPC has done a lot in terms of safety. Safety is everybody’s business as it is a multi-dimensional issue that requires multi-dimensional approach,” Dalhatu said.

    Baru and the NNPC General Manager, Health, Safety and Environment, Mr Ahmed Shehu were conferred with fellowship of the association.

  • NNPC crashes cooking gas prices

    NNPC crashes cooking gas prices

    The sustained strategic intervention of the Nigerian National Petroleum Corporation (NNPC) in the efficient supply and distribution petroleum products has led to significant fall in the prices of Premium Motor Spirit (PMS), also known as petrol, and Liquefied Petroleum Gas (LPG), also known as cooking gas, nationwide.

    A national survey by Oil and Gas Forum, NNPC’s weekly TV programme, indicated a trend of drop in price for cooking gas with the average price for refilling 5kg cylinder at N2,215.96 from the former price of N2,500.00.

    The study further revealed that states with the lowest average price for the 5kg LPG refill were Kaduna and Niger at N2,000; Kogi at N2,005.00; and Oyo at N2,033.33.

    At the NNPC Mega and retail stations nationwide, a 12.5kg of cooking gas that was sold for N4,500 a few months ago is now sold for N3,800 while other retail outlets sell the same quantity for N4,000.

    The corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu made this disclosure in a statement on Sunday.

    The statement added that a national survey by Oil and Gas Forum, NNPC’s weekly TV programme, indicated that in the last few weeks, the price of petrol has fallen steadily from N145 per litre to between N142 and N143 per litre in some stations across the country.

    The study showed that NNPC Mega and affiliate stations across the country are selling the product for N143 per litre, while the pump price range from between N142 and N145 per litre in some major and independent marketers in Lagos, Abuja, Sokoto, Enugu, Delta and other major cities.

    One of the respondents in the survey and a manager at an independent fuel retail station in Abuja, Mohammed Abdullahi, said the station currently sells petrol at N142 per litre in line with the prevailing market situation in order to sustain the turnover of the business and to attract more motorists to the station.

    Another independent marketer in Mosimi, Emeka Ikechukwu, said the going ex-depot prices of PMS had dropped from N138 per litre in most depots to N133.28 in NNPC depots and between N130 and N131 per litre in private depots.

    However, the situation is slightly different in Aba and Umuahia in Abia State and Calabar in Cross River State where most independent fuel stations as well as major marketers selling the product at N145 per litre.

    The survey also showed a similar trend of drop in price for cooking gas with the average price for refilling 5kg cylinder at N2,215.96 from the former price of N2,500.00.

    The study further revealed that states with the lowest average price for the 5kg LPG refill were Kaduna and Niger at N2,000; Kogi at N2,005.00; and Oyo at N2,033.33.

    At the NNPC Mega and retail stations nationwide, a 12.5kg of cooking gas that was sold for N4,500 a few months ago is now sold for N3,800 while other retail outlets sell the same quantity for N4,000.

    NNPC has sustained its interventions through sustained improvement in the supply of the products and remodeling of distribution channels to address sufficiency issues across the country.

    The corporation has also stepped up the resuscitation of some of its critical pipelines and depots such as the Atlas Cove – Mosimi Depot Pipeline, Port-Harcourt Refinery – Aba Depot Pipeline, Kaduna – Kano Pipeline and the Kano Depot which have enhanced efficiency in products distribution.

    Efforts are also ongoing by the NNPC to revamp and re-commission other critical pipelines and depots across the country to further push down the prices of petroleum products for the benefit of consumers.

  • Major shake-up in NNPC

    Major shake-up in NNPC

    • Roland Ewubare heads NAPIMS

    The Nigerian National Petroleum Corporation (NNPC) on Tuesday announced a major management shake-up that culminates in the appointments and redeployment across the value chain.

    The Group Managing Director of the Corporation, Dr. Maikanti Baru, told NNPC staff shortly before the announcement was made public that the new appointments would not only help to position the Corporation for the challenges ahead but would help fill the gaps created due to statutory retirements of staff. A total of 55 top management staff were affected in the exercise.

    According to a statement of the Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who made the disclosure in a statement, under the new arrangement, Roland Ewubare, formerly MD of the Integrated Data Services Limited, (IDSL) moves to the National Petroleum Investment Management Services, (NAPIMS) as the new Group General Manager while Diepriye Tariah, former GGM and Senior Technical Assistant to the NNPC GMD takes over from Ewubare as MD of IDSL.

    The statement reads in part: “Malami Shehu, Executive Director Operations, of the Kaduna Refining and Petrochemical Company, KRPC, was appointed Managing Director of the Port Harcourt Refining Company, PHRC while Adewale Ladenegan, former MD of the Warri Refining and Petrochemical Company, WRPC was moved to KRPC to assume duty as MD.

    “In the same vein, Muhammed Abah, until recently, the Executive Director Operations of WRPC succeeds Ladenegan as MD of Warri Refinery.

    “With the retirement of Alh. Farouk Ahmed as the MD of the Nigerian Products Marketing Company, (NPMC), Umar
    Ajiya, former GGM incharge of Corporate Planning and Strategy, (CP&S) now assumes duty as MD of NPMC while

    “Bala Wunti, former, General Manager, Downstream, GMD’s Office takes charge as GGM CP&S.
    Other changes include: Usman Yusuf who takes over as GGM/STA to the GMD, Adeyemi Adetunji confirmed as MD NNPC Retail alongside Dr. Bola Afolabi who now functions as GGM in charge of Research and Development Division of the Corporation.

    “Also on the list is Mrs. Ahmadu-Katagum appointed GGM (Shipping) in the Downstream Autonomous Business Unit while Kallamu Abdullahi takes over as the GGM in charge of the Renewable Energy Division in the Downstream ABU.
    Dr. Shaibu Musa was promoted MD of the NNPC Medical Services Limited while Ibrahim Birma is the new GGM in charge of the Corporation’s Audit Division now renamed Governance, Risk and Compliance Division.”

  • NNPC disowns fake recruitment adverts 

    NNPC disowns fake recruitment adverts 

    The Nigerian National Petroleum Corporation (NNPC) has, for the umpteenth time, reiterated that it has not launched a recruitment campaign of any kind for now.

    The latest clarification is coming on the heels of a fresh recruitment advert purportedly from the Corporation being circulated by e-mails and on various social media platforms.

    A statement by the Corporation’s spokesman, Mr. Ndu Ughamadu, disclosed that the advert which is on a fake letterhead complete with NNPC logo is purportedly signed by the Group Managing Director, Dr. Maikanti Baru, and the Chief Operating Officer, Refineries, Mr. Anibor Kragha, and directs unsuspecting applicants to send their applications to a fake e-mail address: nnpccareersrecruitment@gmail.com.

    Shedding more light on the scam, Mr. Ughamadu said another form of the scam involved text messages, e-mails, and letters inviting gullible job seekers for fake job interviews at the NNPC Towers and other locations across the country with a view to extorting money from them.

    He called on members of the public, especially applicants, to discountenance any of such adverts or spurious invitations for job interviews as the Corporation was currently not recruiting, stressing that anyone who entertains such invitations does so at his or her own risk.

    Mr. Ughamadu advised that anyone contacted for the purpose of the fake recruitment should not hesitate to report such invitations to relevant law enforcement agencies, adding that the Corporation would continue to engage security agencies on the scam.

    He said NNPC Management under the leadership of Dr. Maikanti Baru would sustain the prevailing culture of transparency and accountability which has witnessed the conduct of open public bidding in sourcing for contractors and suppliers of goods and services for its day-to-day operations, including recruitment exercises, stressing that NNPC will advertise all vacant positions in national newspapers whenever it was ready to recruit.

     

  • NNPC signs pacts with Shell, Chevron to increase revenue by $16b

    NNPC signs pacts with Shell, Chevron to increase revenue by $16b

    Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in London on Monday between the Nigerian National Petroleum Corporation (NNPC) and two of its JV partners: NNPC/Chevron Nigeria Limited (CNL) JV and NNPC/Shell Petroleum Development Company (SPDC) JV.

    The two projects are expected to generate incremental revenues of about $16billion within the assets’ life cycle including a flurry of exploratory activities that would generate employment opportunities in the industry, boost gas supply to power and rejuvenate Nigeria’s industrial capacity utilization.

    The agreement with Chevron would see the development of the NNPC/CNL JV Sonam Project (Project Falcon), hitherto financed through cash calls, to incremental proven and probable oil/liquids reserves of 211million barrels and proven and probable gas reserves of 1.9 trillion cubic feet within in Oil Mining Licences (OMLs) 90 and 91.

    The project is expected to begin to bear fruits in next three and six months.

    Speaking at the signing ceremony, Group Managing Director of the NNPC, Dr. Maikanti Baru, said the project is envisaged to achieve an incremental peak production of about 39, 000 barrels per day of liquids and 283million standard cubic feet of gas per day (mmscf/d) of gas respectively over the life cycle of the asset.

    The NNPC Group General Manager, Public Affairs Division, Mr Ndu Ughamadu made this disclosure in a statement on Thursday.

    The Joint Venture partner, he said, had already expended $1.5billion representing 97 per cent of project completion costs, adding that the agreement would cover the remaining $780million to complete the project’s scope.

    Providing a breakdown of the expected funding requirements of the Sonam Project, Dr. Baru said $400million is to fund the development of seven wells in the Sonam field (OML 91), the Okan 30E Non-Associated Gas (NAG) well (OML 90), and associated facilities including completion of Sonam NAG Well Platform.

    The GMD added that $380million would also be required to reimburse the JV partners for the 2016 portion of the funds committed to lenders that had been cashed and paid for.

    He stated that the Sonam Project alone, on fruition, would net the Federal Government cumulative incremental earnings of $7.3billion over the project’s life.

    The agreement with SPDC, on the other hand, would facilitate the development of the NNPC/SPDC JV Project Santolina which comprised of 156 development activities across 12 OMLs (OMLs 11, 17, 23, 25, 27, 28, 32, 35, 43, 45, 46 and 79) and 30 different fields in the Niger Delta.

    The GMD said the development of the Sonam Project would be carried out in two phases, with the first phase focused on short term activities involving Oil and Gas Generation (STOGG) programme comprising 128 rigless activities and 10 workovers, while the second phase would focus on medium term activities that would involve further development of EA/EJA fields by drilling 14 new well and three workover ones.

    He said the first phase of the project is estimated to deliver incremental liquid reserves of about 202.9 million barrels of oil and 161.8 billion cubic feet on Proven and Probable (2P) basis.

    The GMD put the total third-party financing for Project Santolina at $1billion, inclusive of financing cost of which, he said, co-lending amounted to $420mm with NNPC’s portion of $850million.

    He stated that Project Santolina would generate about $9billion of incremental revenue to the Federation Account over the project’s life cycle and a Net Profit Value (NPV) of $5.2billion over the loan life at 8 per cent discount rate.

    Baru explained that NNPC’s objectives in securing third-party financing for the two sets of projects aligned with government’s aspiration to increase reserves and crude oil and gas production as well as monetize the nation’s enormous gas resources.

    He emphasized that the financing option underscored the realization of one of the Corporation’s 12 Business Focus Areas (BUFAs) that is: Increasing crude oil and gas reserves and production to support government’s Seven Big Wins aspiration.

    In his presentation, Mr. Andy Brown, Shell Global Upstream Director, stated that the alternative funding arrangement was an innovative financing plan that would enable SPDC commence exploration activities hitherto stalled due to funding challenges.

    Mr. Jeffrey Ewing, Chairman and Managing Director of CNL, said Chevron Nigeria Limited was committed to supporting Nigeria’s aspirations of sustaining oil and gas production through innovative strategies as typified by the alternative financing arrangements over which agreement was executed.

    Similar sentiments were expressed by the consortium of banks involved in the project namely Access Bank, Standard Chartered Bank, Union Bank and United Bank for Africa, UBA and some foreign financial institutions.

  • France to invest over €1b in Nigeria oil industry

    France to invest over €1b in Nigeria oil industry

    The French Government has said that it has set aside about one billion euros to be invested in the Nigeria Oil and Gas industry, stating that Nigeria remains her first economic trading partner in Africa.

    France Ambassador to Nigeria, Denys Gauer, declared this when the Group General Manager, Group Public Affairs Division (GPAD) of the Nigerian National Petroleum Corporation (NNPC), Mr. Ndu Ughamadu, led a delegation to his office in Abuja.

    Mr. Gauer said that French Development Agency has put in place about one billion Euros to encourage French investors to invest in the Nigeria Oil and Gas sector, adding that the French government is also cooperating with the Federal Government in the fight against Boko Haram insurgency.

    The French Ambassador commended the Federal Government for stemming the Niger Delta insecurity situation noting that Total, a French multinational Oil and Gas Company, had significant investment equity in the Nigeria Liquefied Natural Gas Limited (NLNG) and Egina project.

    NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu made this known in a statement on Tuesday.

    He however, expressed concern that some other French companies were having challenges with the unclear Nigeria’s fiscal policies in the Oil and Gas sector revealing that some French investors were currently developing wind energy and solar energy in Katsina State.

    Earlier, the Group General Manager, Group Public Affairs Division of NNPC, Mr. Ughamadu, said the Corporation under the current management led by the Group Managing Director, Dr. Maikanti Baru, was well positioned and open to investment opportunities from the French Government and investors.

    Mr. Ughamadu noted that with the significant scale down in pipeline vandalism and insecurity which has boosted oil production, global investors such as the French Government can now invest in renewable energy, gas and power infrastructural development, pipeline construction, storage facility and the direct sales and direct purchase of Nigeria crude oil grades.

    He said the NNPC as the state-owned oil and gas Corporation had global operations and called for closer collaboration between the French Government and the Corporation especially in the area of consular services in order to enable NNPC top executives and staff meet their global engagements.

    The GGM thanked the Ambassador for the warm reception accorded the NNPC delegation and assured him that with the leadership of the new NNPC management, the Corporation was determined to develop a robust business atmosphere for investors.