NNPC Commits To Intensifying Refineries TAM, Frontier Basin Exploration

Expediting action on the holistic rehabilitation of the refineries, strengthening internal control mechanisms and intensifying exploration efforts in the frontier Basins, top key strategic areas the Nigerian National Petroleum Corporation (NNPC) is focusing on, at it aims to enhance its position as a fully integrated national energy company.

Group Managing Director of the corporation, Dr. Maikanti Baru, said this at this year’s NNPC First Quarter 2018 Top Management Steering Committee (Steerco) Meeting in Abuja.

Admitting the tremendous changes at play in the petroleum industry landscape globally, Dr said said it behooved on oil companies to, as a long-time survival strategy, adapt to the changes for efficiency, growth and profitability.

“The changes we are seeing in the industry over the last few years call for some action on our part. This is because as a business concern, we don’t live in isolation in the Industry,” he said.

Other strategies considered by the corporation include reviewing Key Performance Indicators (KPIs), setting realistic targets for immediate sign-off, as well as spending items capable of improving the organization’s bottom-line.

The NNPC which is reviewing it’s mission and vision statements have also ventured into renewable energy and power sectors in recent times.

Will private management of Nigeria's refineries be a success story?

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