NNPC seals pact to revive shipping coy

PRESIDENT Muhammadu Buhari has been confirmed to address this year’s edition of the Nigeria Oil and Gas Conference and Exhibitions (NOG16) in Abuja.
A statement from the organisers of the event, CWC Group, explained that the President’s participation at this year’s event was highly anticipated as it seeks Federal Government’s intervention in the face of global challenges.
‘‘The price of crude has dropped to record low, forcing many in the industry to cancel or suspend key projects and investments as well as record significant numbers in job losses. NOG16 will serve as the platform for the government to showcase the direction in which they are taking the oil and gas industry to in the years to come,’’ CWC said.
Commenting on this year’s event, Dr. Alirio Parra, former Minister of Mines and Energy, Venezuela and Member of Board, CWC Group, stated: “NOG, now in its 16th year, has become an extraordinary event in the Nigerian and international energy calendars. It brings together policy makers, operating oil companies, technology innovators and local manufacturers in an open and free discussion and debate that has the potential for developing new strategies for growth and investment.” Alongside Buhari, other high level government officials who will be participating in the four-day event include the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, other Ministers of the Federal Republic, senators, senior government representatives from the Ministry of Petroleum Resources, NNPC and its subsidiaries. Also participating will be leaders and top management of international oil companies, independent producers, international and indigenous service providers and industry associations.
CWC noted that this year’s event will provide unrivalled networking opportunities, bringing the entire value chain under one roof and connecting participants to the right people in order to add value to their businesses.
NOG brings together the best of oil and gas industry professionals, investors, governments, financiers and others from across the globe.
Stories by Adewale Sanyaolu
MINISTER of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that talks have reached advanced stage to revive the NPPC Shipping Company.
The Minister disclosed this during an interactive meeting with the joint House of Representatives Committee on Gas Resources, Petroleum (Downstream and Upstream) and Local Content, chaired by Mr. Victor Nwokolo, following controversies trailing the recent unbundling of Nigerian National Petroleum Corporation (NNPC) to 30 companies.
The Minister said it remained regrettable that the shipping company that was established over eight years ago never acquired a vessel since then. According to him, the revitalisation of the ailing shipping company would be handled by the world’s largest shipping company.
Recall that NNPC had eight years ago, established NIKORMA, an NNPC/Hyundai Consortium Joint Venture Shipping Company.
On unbundling of NNPC, Kachikwu acknowledged the communication gap between his office and the National Assembly, adding that the concerns expressed by members were legitimate.
He said the “unbundling was used to qualify the sub-sects” otherwise called “divisions”, and not companies as would have been applicable to the actual unbundling of the Corporation as stipulated in the Petroleum Industry Bill (PIB).
He assured that the restructuring of NNPC will help in achieving 16 to 18 month self-sufficiency of supply of petroleum products as well as the establishment of the modular type refineries by investors as contained in the recent advert placed by the corporation.
Kachikwu explained that 17 subsidiaries of NNPC had been identified and that additional four were created, adding that the administrative restructuring would help in generating more jobs, profitability and efficiency of various sub-sects of the corporation, including gas and power, property, pipeline and refineries, among others.
He assured that the corporation has no plan to disengage the 10,000 workers on its payroll but added that the administrative restructuring will help to put the 3,000 redundant staff in the competency venture. The lawmakers and the Minister resolved to work harmoniously towards the timely passage of the PIB..

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