Ltd has what it takes to become the African version of Saudi Arabia’s Aramco.
Mr Dangote said, “I truly believe that NNPC should be our African Aramco. You have what it takes to take you up there and I am very happy. There is nothing that is impossible. You can make it possible and don’t let anything scare you. It is just the same thing with us. If I tell you about our own story, you will be shocked as to how. It wasn’t only the refinery that we started about six years ago. We had 32 projects that we all rolled out at the same time.
The billionaire in his feedback said the NNPC needs to roll out massive investments in terms of oil and gas to meet demand, adding that there are many off-takers waiting to invest. He said, “Let’s begin with delivering strong returns, which of course is a function of price and cost. While price in your industry is determined by the market and so clearly outside your control, the same cannot be said about cost. More aggressive cost targets need to be adopted and NUIMS staff rewarded with juicy bonuses if they meet these targets.
Mr Elumelu said, “When I listened to the Group CEO speak today, talking about us moving to 2.5 million barrels, we challenge him to do more. I believe that it is achievable. From losing 97 per cent of our 50,000 barrels production, interestingly and it will be bad of me to have this platform and not share this here.
He added, “Today, we lifted 501,000 barrels of oil bringing our total lifting this year alone to 2.6m barrels of oil. I am a great beneficiary of the new NNPCL.” “And the reason is because we have challenges of security, decarbonization issues, energy transition, and reluctance of finance institutions to lend.
As a National Oil Company, Mr Kyari said the NNPC must cooperate with its partners to solve the energy challenges facing the country.He said it is only through collaborative efforts with its stakeholders and partners that the NNPC can guarantee energy for the nation’s industrialization. “Our performance will speak for our us and our country and this is what we are focused on doing, we will work with you, we will work with the industry, we will work with our partners, we will work with our shareholders and ultimately, we will deliver value in a short time of three years and this is sufficient to bring all the value on the table.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: PremiumTimesng - 🏆 3. / 78 Read more »