NNPC and OPEC commit to collaborating to draw in investments.
The Nigerian National Petroleum Company Limited (NNPC Ltd) and the Organization of the Oil Exporting Countries (OPEC) have pledged to collaborate closely to fulfill the nation’s goals of attracting investments and enhancing production.
This commitment was revealed by Olufemi Soneye, the chief corporate communications officer of NNPC Ltd, in a statement issued on Wednesday.
According to the statement, the agreement was reached during a courtesy visit by the Secretary General of OPEC, Haitham Al-Ghais, to the Group Chief Executive Officer of NNPC Ltd, Mele Kyari, at the NNPC Towers on Wednesday.
During the visit, Mr. Al-Ghais expressed OPEC‘s alignment with NNPC Ltd’s vision, as encapsulated in its payoff line “Energy for Today, Energy for Tomorrow.” He emphasized the importance of inclusive energy views, contrary to the notion that certain energy sources are undesirable.
Mr. Al-Ghais highlighted the substantial investment required – an estimated $14 trillion by 2035 – to meet global energy demand. He urged NNPC Ltd to seize this opportunity to enhance its production and maintain its status as a dependable energy provider globally.
“We will continue to ensure that the market is stable. The global market has to be stable in order for Nigeria to be able to attract investors. If there’s volatility, if there’s no stability in the market, it will only create havoc for everybody, whether it’s a producer or consumer country.
So, we will continue to do that in OPEC. We count on Nigeria’s support,” Mr. Al-Ghais stated.
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Responding, Mr. Kyari affirmed that NNPC Ltd was diligently working to recover lost production and create an enabling fiscal environment to attract investments. He expressed gratitude to OPEC for its ongoing support to Nigeria and assured of NNPC Ltd’s continuous assistance to the organization.
Mr. Kyari reiterated NNPC Ltd’s commitment to supporting OPEC’s stability efforts and collaborating in any capacity necessary.
