• PSN
  • News
    • Top Story
    • Trending Story
  • Business
  • Sports
  • World News
  • PSN TV
Thursday, February 21, 2019
  • HOME
  • NEWS
    • TOP STORY
    • TRENDING STORY
  • BUSINESS
  • POLITICS
  • PSN TV
  • WORLD NEWS
No Result
View All Result
PER SECOND NEWS
Advertisement
ADVERTISEMENT
  • HOME
  • NEWS
    • TOP STORY
    • TRENDING STORY
  • BUSINESS
  • POLITICS
  • PSN TV
  • WORLD NEWS
No Result
View All Result
PER SECOND NEWS
ADVERTISEMENT
Home Highlight

Wunti Unveils NNPC’s Three-Pronged Wining Strategy…As Corporation Brims With Ambition

PER SECOND NEWS by PER SECOND NEWS
August 14, 2018
in Highlight, Oil & Gas
0 0
0
0
SHARES
37
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

By Per Second News

Nigeria’s state oil firm, the Nigerian National Petroleum Corporation (NNPC) has developed a three-phased corporate strategy with which it plans to leverage oil and gas market opportunities especially within the African continent between now and 2021.

In the latest latest edition of the quarterly in-house publication of the NNPC under the cover story From Gas to Greatness, reviewed by this newspaper,  the corporation’s Group General Manager, Corporate Planning and Strategy, Mr. Bala Wunti, said that by 2021, it expected the strategy to have come into full cycle.

Wunti also disclosed that at which time it would have expanded its business footprints beyond the shores of Nigeria first as a net exporter of refined petroleum products, and then a hub for other hydrocarbon businesses.

He also said by this time, NNPC would have ramped up its domestic refining capacity to about 650, 000 barrels per day (bd) up by about 205,000bd.

The NNPC Chief Corporate Strategist said in the publication that the corporation adopted a survival phase which would last until 2018; a consolidation phase – expected to kick in 2019; and then a long-term phase – taking off and becoming full-fledged by 2021, as the three-phased corporate strategy it was pursuing.

“While our strategy department is in charge of strategy development and business model formulation, our Corporate Planning Department (CPD) is in charge of our planning and budgeting process. Key performance indicators are established to monitor performance and ensure our business plans achieve the desired strategic objectives,” said Wunti in the magazine which focused on gas in the edition.

According to him, the corporate strategy for the NNPC was in three phases of short term survival phase; midterm consolidation phase and long-term growth phase respectively.

He said the survival phase was in 2018 where the corporation’s primary focus was to ensure the corporation stayed afloat by keeping its cost well under control below its revenues.

“Under this stage we have to seek to resolve protracted legal and commercial stalemates hindering us from taking major investment decisions that have long term growth implications. This includes, resolving Production Sharing Contracts (PSC) arbitrations; Escravos Gas-to-Liquids (EGTL) project disputes as well as taking Final Investment Decisions (FIDs) on critical upstream projects,” he stated.

The second phase, Wunti added: “involves midterm consolidation phase where the corporation would be seeking to achieve major milestones most of which align with national aspirations as enshrined in the Economic Recovery and Growth Plan (ERGP).”

This step, he explained included achieving three million barrels per day (mbd) average oil production, 45 billion reserves, Incorporated Joint Venture (IJV) implementation, Seven Critical Gas Development Plan (7CGDP), five billion cubic feet per day (bcfd) of gas to domestic market and growing NNPC refining capacity to about 650, 000 barrels per day (bd).

“In the long term, post, 2021, we see NNPC achieving long term growth by expanding its footprints beyond the shores of the country, becoming a net exporter of products and dominating the West African region,” the corporation’s chief strategist noted.

SHARE THIS ARTICLE
Tags: Bala WuntiNNPC’s Three-Pronged Wining Strategy
PER SECOND NEWS

PER SECOND NEWS

Heritage Bank
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Popular Stories

  • Drop Box visa applicants say U.S. is revoking and cancelling valid visas of Nigerians

    7 shares
    Share 7 Tweet 0
  • ‘Hotel’ in Benue Where Sex Is Cheaper Than A Bottle Of Beer

    6 shares
    Share 6 Tweet 0
  • Once banned from the U.S., Atiku set for historic address in Washington, New-York

    146 shares
    Share 146 Tweet 0
  • Buhari Could Have Done More But For Two Men In His Government – Aisha Buhari

    52 shares
    Share 52 Tweet 0
  • AUDIO: Nollywood sensation Jennifer Eliogu releases new single ‘Lullaby’

    64 shares
    Share 64 Tweet 0

Per Second News

Media is evolving with time, in the 21st century Media is being revolutionized.

Per Second News believes that access to information is essential to the health of democracy, it will ensure that citizens make responsible, informed choices rather than acting out of ignorance or misinformation.

Recent Posts

  • VP Osinbajo says he’s committed to the Buhari administration
  • DSS denies wiretapping claims
  • Buhari swears in 8 perm secs

Stay Connected

Available on PlayStore

  • Archive
  • About
  • Contact
  • Advertise
  • FAQ
  • Policy

© 2019 - Per Second News-PSN. All rights reserved.

No Result
View All Result
  • HOME
  • NEWS
    • TOP STORY
    • TRENDING STORY
  • BUSINESS
  • POLITICS
  • PSN TV
  • WORLD NEWS

© 2019 - Per Second News-PSN. All rights reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In