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NNPC Ltd, OPEC pledge collaboration to attract investments, grow production

"The two organizations came to this accord when the Secretary General of OPEC, Haitham al-Ghais, paid a courtesy visit to the Group Chief Executive Officer of NNPC Ltd., Mr. Mele Kyari, at the NNPC Towers"

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The Nigerian National Petroleum Company Limited (NNPCL) and the Organization of the Oil Exporting Countries (OPEC) have pledged to work closelyto achieve the nation’s aspirations of attracting investments and growing production.

The two organizations came to this accord when the Secretary General of OPEC, Haitham al-Ghais, paid a courtesy visit to the Group Chief Executive Officer of NNPC Ltd., Mr. Mele Kyari, at the NNPC Towers on Wednesday.

Speaking at the event, al-Ghais noted that OPEC was completely aligned with NNPC Ltd.’s vision as captured in its payoff line, “Energy for Today, Energy for Tomorrow,” because of its inclusive view of energy as opposed to the view being pushed in some quarters that some sources of energy were bad.

He stated this in a statement by the Chief Corporate Communications Officer, NNPC Ltd., Mr. Femi Soneye, emailed to PerSecondNews on Wednesday.

He said: “Spite of the pushback on oil and gas, the world would require about $14 trillion in investments from now until 2035 to be able to meet global demand, and he urged NNPC Ltd. to do everything to tap into that opportunity to raise its production to continue to be a reliable source of energy to the world.

“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 a consumer country. So, we will continue to do that in OPEC. We count on Nigeria’s support.”

In his remarks, Kyari said NNPC Ltd. was working very hard to recover lost production and provide the right fiscal environment to attract investments.

He expressed appreciation to OPEC for its support to Nigeria, adding that NNPC Ltd. will continue to support the organization in whatever way it can.

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