Breaking News
Translate

Petrochemical Company (KRPC), in Kaduna

Oscarline ONWUEMENYI

He noted that the on-going NNPC Transformation includes the consolidation of the Corporation’s trading outfits and capacity building for direct marketing by NNPC of the Federation’s cargoes.

Barkindo explained that the Federal Government created NPDC in 1988 and awarded it premium oil blocks with the intention making the parent company-NNPC a major oil producer as distinct from being just a passive majority joint shareholder in the Nigerian oil industry while the international oil companies operated the ventures.
The oil blocks would include some of the old blocks formerly awarded to NPDC and later taken away and some new ones, would position NPDC to perform creditable and transform into major oil producer in the new regime to be ushered in by the PIB.
He regretted that the blocks were gradually taken away by successive administrations and rewarded to private persons and companies.
According to him, getting new quality oil blocks was the only way to make NPDC compete the international oil companies and other international national oil companies.
He said, “We are in discussion with government. We have discovered unencumbered assets, which we are discussing with government and we are confident that the Acting President will accede to our demand before the passage of PIB.”
Barkindo who noted that NPDC’s production in 2009 increased to 60,000 barrels per day from more dismal performances in previous years.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.