Date Published: 10/29/10

NNPC, NLNG Pledge to Partner on PIB

The Nigerian National Petroleum Corporation, NNPC, and the Nigeria Liquefied Natural Gas, NLNG, have resolved to work in synchronization with other stakeholders in the Oil and Gas industry to present a common front on the Petroleum Industry Bill currently before the National Assembly.  

The Group Managing Director of the NNPC, Engr. Austen Oniwon, and the Managing Director of the NLNG, Mr. Chima Ibeneche, made the resolution when Engr. Oniwon received the NLNG helmsman in his office at the NNPC Towers, Abuja.

Engr. Oniwon noted that there was every need for all the relevant stakeholders to come together and work collectively with the NNPC to ensure an oil bill that would enhance the growth and development of the Oil and Gas business in Nigeria.

“The NNPC as a key stakeholder in the Petroleum Industry in Nigeria would continue to work with all stakeholders to ensure that a bill that would not be difficult for Mr. President to assent to is passed into law to enhance the viability of the Oil business in our clime,” the GMD quipped.

He dispelled the rumours of the existence of various versions of the bill before the National Assembly stressing that to the best of his knowledge there is only one PIB and that is the one which was presented to the National Assembly by the executive.

Engr. Oniwon stated that the Corporation would continue to partner with the NLNG, noting that the NLNG is one of the biggest portfolios that the Corporation is handling and the management of the NNPC is proud of the progress that has been made so far.

He observed that as a stakeholder in the NLNG, the Corporation is committed to the growth of the business and would want to establish more Liquefied Natural Gas businesses across the country in order to generate employment and grow gas supply to the domestic and international markets.

The NNPC helmsman urged the NLNG management to ensure prudence in its contracts with the International Oil Companies and stated that there is a bright future for the gas business in Nigeria going by the global trend of the market.

Earlier, the Managing Director of the NLNG, Mr. Chima Ibeneche expressed the readiness of his company to partner with the NNPC in harmonizing grey areas in the PIB and congratulated the GMD on his well-deserved appointment.