The Group Managing Director and Chief Executive Officer, GMD/CEO of Nigerian National Petroleum Company Limited (NNPC) has charged the Upstream Directorate to develop action strategies towards generating needed resources for energy transition.
Kyari made this charge during the two-day intensive retreat organize by the Upstream Directorate of the NNPC in Uyo, Akwa Ibom state while addressing participants through a virtual platform, the GMD said that it was important for all business leaders in the upstream to understand the enormous responsibilities placed on the directorate in realizing the energy transition aspiration.
He pointed out that close attention will be given to issue of security of assets, financing and stakeholders’ management for efficient operation that would lead to business growth.
Also expressing his views on the event, Group Executive Director (GED) Finance and Accounts Directorate and Chief Financial Officer (CFO) Mr. Umar Ajiya said that with the in-country growing refining capacity the upstream will likely defied limitations posed by OPEC and Covid-19 pandemic to grow production.
He advised the directors of the Upstream Strategic Business Units (SBUs) to focus on competent and quality delivery that will enable them attract jobs outside the NNPC stressing that their continue existence in the new NNPC structure will depend on their level of profitability.
On his part, the Group Executive Director, Upstream, Engineer Adokiye Tombomeiye emphasise on cost reduction and improved production as key areas of focus to support NNPC in the new fiscal regime of the Petroleum Industry Act (PIA).
He enjoined all staff of the directorate to adopt the principle of transparency and accountability in the discharge of their daily responsibilities.
“We have no option than to increase production and the buyers. We should move away from power point to action but action is not enough, we should move from action to exhibition and exhibition is not enough, we should move from exhibition to cash.
The money will make today will be the energy of tomorrow.”
In her welcome address, The Group General Manager, Crude Oil Marketing Division, (COMD) of NNPC Mrs. Rose Eshiet, said that the retreat was a strategic engagement platform aimed at extracting viable solutions that will help directorate achieve its mandate.
“It is important that we must deliver on our mandate. For NNPC to touch every life in Nigeria even beyond the country, it has to start with upstream.”
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