News

NNPCL Are Part Owners Of Dangote Refinery – Kyari

Published

1 month ago

Nov 11, 2024.

NNPC Addresses Reports Of Kyari’s Removal

The Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari, discredited allegations of sabotage against local refineries by the organization.

Kyari emphasized NNPCL’s dedication to remedying Nigeria’s energy challenges by prioritizing energy security, sustainable growth, and affordable energy solutions.

During the inauguration of the 42nd Nigeria Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition in Lagos, themed “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth, and Affordability,” Kyari, serving as the Special Guest of Honour, reiterated the company’s commitment.

EDITOR’S PICKS

EKO HOT BLOG reports that he announced imminent plans to establish 12 Compressed Natural Gas (CNG) Mother Stations and Mini LNG Plants to bolster the current 1.6 billion standard cubic feet (bscf) of gas supply for the domestic market.

Kyari highlighted the paramount significance of addressing the energy trilemma responsibly, focusing on enhancing the supply chain, expanding refining capacities, and enlarging the retail network. Moreover, he outlined collaborative initiatives with private refineries to ensure accessible and reliable petroleum supplies, including leveraging Naira-for-crude transactions to stabilize the local currency and regulate foreign exchange markets.

NNPC’s strategy encompasses the expansion of gas infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the Obiafu-Obrikom-Oben (OB3) Gas Pipeline projects.

Additionally, Kyari spoke on the development of cleaner energy options like Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG) to enhance the energy landscape in Nigeria.

The CEO highlighted NNPC’s daily supply of over 1.6 bscf of gas to the local market through an infrastructure portfolio managed entirely on the company’s balance sheet. He elaborated on forthcoming initiatives aimed at broadening access to domestic energy resources, including launching CNG mother stations, mini-LNG plants, and additional CNG daughter stations over the next 3-6 months.

NNPCL Refinery Kyari

Kyari praised President Bola Tinubu’s actions in alleviating forex pressures via reduced fuel imports and reinforced Nigeria’s local refining capabilities while stressing the necessity of collaboration, innovation, and technological advancements in attaining Nigeria’s energy objectives.

Regarding NNPC’s obligation to ensure energy security under the Petroleum Industry Act, 2021, Kyari detailed the firm’s collaborations and investments geared towards boosting local production and driving revenue for economic diversification.

Responding to assertions of NNPC impeding domestic refinery progress, Kyari clarified that the company’s partial ownership of the Dangote Refinery serves to fortify domestic fuel supply, aligning with a strategic investment approach.