July 25, 2024
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NNPC Ltd., OPEC Pledge Collaboration to Boost Nigerian Energy Sector

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Organization of the Oil Exporting Countries (OPEC) have affirmed their commitment to close collaboration to realize Nigeria’s goals of attracting investments and enhancing production in the energy sector.

During a courtesy visit by OPEC Secretary General Haitham al-Ghais to Mr. Mele Kyari, Group Chief Executive Officer of NNPC Ltd., at the NNPC Towers, both organizations underscored their alignment in advancing the nation’s energy aspirations.

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Al-Ghais commended NNPC Ltd.’s inclusive energy vision, emphasizing the importance of diverse energy sources in meeting global demand. Despite challenges facing the oil and gas industry, he highlighted the need for significant investments totaling $14 trillion by 2035 to address future energy needs.

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

Kyari, in response, outlined NNPC Ltd.’s efforts to boost production and create an enabling fiscal environment to attract investments. He expressed gratitude for OPEC’s support and affirmed NNPC Ltd.’s commitment to continue collaborating with the organization.

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