Sunday, October 24, 2021

    NNPC Weekly review: NNPC assures of adequate supply of products at Yuletide

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Edith Ike-Eboh
    Ahead of the Yuletide, the NNPC Retail Limited, a downstream subsidiary of the Nigerian National Petroleum Corporation (NNPC) started the week by assuring of adequate supply of petroleum products across the country
    The corporation also restated its commitment to customer satisfaction by delivering quality and affordable services at all times.
    Speaking during the 2021 customer service week in Abuja, the Company’s Executive Director, Operations Engineer Lawan Bello said the essence of the exercise was to show customers how much the company cares for them.
    As the end of the year approaches, he assured petroleum products consumers that there will be no fuel scarcity as plans were already in place to ensure adequate supply, while advising against any form of sharp practices and panic buying.
    On his part, the Executive Director, Sales and Marketing, Mr Umar Aminu said, the essence of the customer week was to reinforce the company’s commitment to all its customers who have supported it in its quest to guarantee the nation’s energy security.
    To underscore the company’s relentless commitment to customer service, he said NNPC Retail will soon introduce an application for consumers to boost its services while it has embarked on an expansion programme to strengthen its customer base.
    The customer service week is commemorated globally in the first week of October. This year’s event was marked from 4th to 8th October, with the theme ‘’the Power of Service’’.
    NNPC Retail Limited is into retailing of refined petroleum products such as PMS, AGO , DPK, lubricants and LPG or cooking gas among others
    In the week under review the Senate confirmed the appointment of board members of the Nigerian Upstream Regulatory Commission.
    The confirmation of the nominees was based on a reports by the Senate Committee on Petroleum Resources.
    The nominees confirmed include Isa Ibrahim Modibbo – Chairman; Engr. Gbenga Komolafe – Chief Executive; Hassan Gambo – Executive Commissioner, Finance and Accounts; and Ms. Rose Ndong – Executive Commissioner, Exploration and Acreage Management.
    Chairman of the Committee on Petroleum Resources (Upstream), Sen. Albert Bassey Akpan, in his presentation, said that the nominees demonstrated in-depth knowledge of the petroleum industry, especially the upstream petroleum sector and the economics of petroleum exploration and production.
    He added that the appointment of the nominees satisfied the requirements of Sections 11 and 18 (1-5) of the Petroleum Industry Act, 2021.
    According to the lawmaker, “there are no adverse reports on the nominees as record checks and other forms of investigation by security agencies did not reveal any negative trace against them.”
    Akpan stated that the Committee was satisfied with the qualifications, experience, suitability, competence and integrity of the nominees to assume the position of Chairman, Chief Executive and Executive Commissioners of the Nigerian Upstream Regulatory Commission.
    In his remarks, the Senate President, Ahmad Lawan, said the establishment of the Nigerian Upstream Regulatory Commission would provide a foundation for the stabilization of the petroleum industry in Nigeria.
    He said the Regulatory Commission has the enormous and huge responsibility of setting and establishing the Commission as provided in the Petroleum Industry Act.
    “They have the unenviable responsibility of ensuring that they commit themselves and work hard to provide the solid and stable foundation for that matter, that they don’t waste any time because time is of essence.
    The senate president described the event as the beginning of a reform process in the Petroleum Industry, saying the Commission is one of the huge arms of those reforms that will stabilize the petroleum industry in Nigeria.
    He urged them to be patriotic and committed to their responsibilities while wishing them a fruitful tenure as they assume their new roles.
    Also, the Minister of State for Petroleum Resources, Chief Timipre Sylva, has reaffirmed his determination to continue to make positive contributions to the growth and development of the country.
    Speaking during the presentation of a letter of award as New Telegraph Newspaper Outstanding Minister of the Year 2021, by the newspaper, in Abuja, Sylva said he was grateful to God and the newspaper for considering him worthy of such an award and noted that the award would spur him to do more for the nation.
    While thanking President Mohammadu Buhari for giving him the opportunity to serve as the Minister of State Petroleum Resources, Sylva said the commitment of the President was instrumental to the passage of the Petroleum Industry Act [PIA] and congratulated him for the feat.
    “The Passage of the PIA is one critical feat achieved by the Buhari Government that deserves commendation from Nigerians. You will recall that for over two decades the bill defiled passage until this year.
    ”It shows that this government is determined to change the narratives in the oil and gas sector.
    ”The declaration of the decade of gas, the rehabilitation of the three refineries in the country, the Ajaokuta-Kaduna-Kano [AKK] gas pipeline projects are among the critical achievements of this government,” Sylva said.
    The minister noted that with the passage of the PIA, the country was set to attract multiple investments in the oil and gas sector, noting that Nigeria still remains the best investment destination in Africa.
    The letter of award was presented to the minister by the Managing Director of New Telegraph, Mr Ayo Aminu, and the daily editor of the paper Ms Juliet Bumah.
    In another development, the minister has challenged Nigerian universities to engage in researches that will be beneficial to the nation.
    Receiving the Governing Council of the Federal University of Technology Akure (FUTA), led by its Chairman Dr Godknows Igali, in his office, Chief Sylva said it was unfortunate that despite the volume of researches developed by Nigerian universities, the country still relies on consultants and tools for the oil and gas sector from Europe and America.
    He challenged the Council to look inward and come up with researches and tools that are affordable and that would enhance exploration in the oil and gas sector of the nation’s economy.
    On his part, Igali sought the support of the minister in pushing through pending Memoranda of Understandings (MOUs) between the institutions and key agencies under the petroleum ministry.
    He assured the minister that FUTA as a frontline institute of Technology in the country, would endeavour to undertake researches that would be beneficial to the country, especially in the oil and gas Industry.

    What you need to know
    There are currently three refineries owned by the Nigerian Government through the NNPC
    The Port Harcourt Refining Company PHRC limited is made of the old and new refinery, Warri refining and Petrolchemicals company (WRPC) Limited and Kaduna Refining and Petrochemicals (KRPC) Limited.
    PHRC Limited was the first refinery built in Nigeria , it began operations in late 1965 with a capacity of 38,000 barrels per day, enough to meet domestic requirement at time.
    WRPC limited was the second constructed and opened in 1978 with a capacity of 100,000 barrel per day.
    In October 1980, KRPC limited became third refinery built with a capacity of 100,000 barrels per day but did not become fully productive until the mid 1980s
    A fourth and new refinery was completed in 1989 at Alesa Eleme, Port Harcourt, increasing the refining capacity to 445,000 barrel per day
    In the late 1970s and early 1980s, NNPC had substantial amounts of oil fields abroad (Mostly by Shell) and some oil was also processed in Cameroon, Ghana and Ivory Coast
    In the late 1980s, the major Western oil companies exploring oil resources in Nigeria were Shell, Mobil, Agip, Elf Aquitaine, Phillips, Texaco and Ashland
    In 1988, about 96 per cent of the oil Nigeria produces came from companies in which the NNPC held at least 60 per cent of the equity and 75 per cent of the total investment in Petroleum.

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