‘NNPC, NPA partnership will reduce under-recovery, enhance product supply’
Collaboration between the Nigerian National Petroleum Corporation (NNPC) has said that collaboration between it and the Nigerian Ports Authority (NPA) will help the country reduce expenditures made by the state oil company and limit chances of fuel scarcity.
Group Managing Director of NNPC, Dr. Maikanti Baru, who stated this yesterday while receiving the Managing Director of the Nigerian Ports Authority (NPA), Hajia Hadiza Bala Usman, at the NNPC’s Towers in Abuja, said the proposed establishment of a one-stop-shop at the ports with all agencies relevant to the clearing of petroleum product vessels would reduce delay and demurrage that usually result in under-recovery for the corporation.
Baru, who opined that a joint venture agreement with Nigeria Agip Oil Company Limited (NAOC) would ensure the implementation of the Okpai Phase 2 project to shore up the current power generation with 500 megawatts, said the corporation NNPC would relocate pipelines along the Escravos Channel to pave way for the dredging aimed at easing movement of ships to Warri Port.
He commended the NPA for securing the approval of the Federal Executive Council (FEC) for the dredging of the Escravos Channel, stressing that the feat would go a long way to buoying economic activities in the area.
Baru, who also received Vice Chairman and Managing Director of NAOC, Fiorillo Lorenzo, said Okpai Phase 2 project is being fine-tuned and would increase power generation by between 10 to 12 per cent.
Usman, on her part, said the interface with the NNPC was geared towards strengthening collaboration with the corporation, especially in the relocation of pipelines at various locations across the operational areas of the NPA.
“We are here to strengthen synergy and collaboration between NPA and NNPC. We are about embarking on dredging activities at Escravos and Ejigbo and there are a lot of pipelines that are buried within that location and so we want to work with NNPC on relocating and burying those pipelines deeper so that NPA can dredge and have a deeper draft for bigger vessels to come to Warri and Lagos to enhance the supply of petroleum products and other larger vessels coming into the country.”
Lorenzo, who spoke on the power project, said: “We want to grow and we want to build and develop new opportunities for the country and support the country in its energy journey. We want to try to change and improve the energy mix of the country and the Okpai project is a testament of this commitment of our company.”
No Comments yet