LAGOS – The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, yesterday said setting up refineries to end the deluge of petroleum importation into the country require the support of its joint venture partners.
He also called for collaboration with Chevron Nigeria Limited to establish a condensate splinter refinery.
Kyari, who spoke when the management of Chevron Nigeria Limited (CNL) led by its Managing Director, Jeff Ewing, on a business visit to the NNPC Towers, Abuja, also urged CNL to work closely with the corporation to evolve modalities for a downward review of the cost structure of crude oil production in Nigeria in order to boost profit and revenue for the country.
“We hold Chevron Nigeria Limited (CNL) in a high esteem for efficiency and cost optimization. We look more up to the company to increase production and reserve, reduce cost and increase local refining capacity”, Mallam Kyari stated.
Speaking on cash call, he says NNPC had done very well in meeting its financial obligations to the company in the last three years, noting that the move was expected to boost the confidence of Joint Venture partners to commit to further investment in the upstream.
He urged the company to further collaborate with NNPC to increase crude oil production and grow reserves in the country, stressing that NNPC was ready to work with Chevron to ensure that the Final Investment Decision (FID) on NLNG Train 7 was taken soonest for the benefits of all the investors.
He said efforts were on top gear by the government and security agencies to secure all the oil and gas pipelines across the country, assuring that the reinvigorated security architecture would provide safe working environment for all operators.
Speaking earlier, Managing Director of CNL, Mr. Jeff Ewing, said his company was prepared to work with the new management of NNPC to grow production.
The post ‘Ending Fuel Importation Requires Collective Responsibility’ appeared first on Independent Newspapers Nigeria.
Source: Independent
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