“NNPC, OPEC PLEDGE COLLABORATION TO ATTRACT INVESTMENTS, GROW PRODUCTION”

The Nigerian National Petroleum Company Limited (NNPC Ltd) and the Organization of the Oil Exporting Countries (OPEC) have committed to collaborating closely to realize the nation’s goals of attracting investments and increasing production.

This agreement was reached during a courtesy visit by the Secretary-General of OPEC, Haitham al-Ghais, to the Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, at the NNPC Towers on Wednesday.

During the event, al-Ghais expressed OPEC’s complete alignment with NNPC Ltd.’s vision, encapsulated in its payoff line: “Energy for Today, Energy for Tomorrow.” He emphasized the inclusive view of energy, contrary to the notion that some energy sources are undesirable.

He revealed that, despite the resistance to oil and gas, the world would need approximately $14 trillion in investments from now until 2035 to meet global demand. He urged NNPC Ltd to seize this opportunity, increase its production, and remain a dependable energy source globally.

“We will continue to ensure that the market is stable. The global market has to be stable to enable Nigeria 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,” stated the OPEC Secretary-General.

In response, Kyari highlighted NNPC Ltd’s efforts to recover lost production and create a conducive fiscal environment for attracting investments. He expressed gratitude to OPEC for its support to Nigeria, pledging continued support from NNPC Ltd to the organization.

From the News Source: Techeconomy