…Expresses confidence on new GCEO of NNPCL
Iruoma Okpalaebubu
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has cautiond refinery operators to prioritise the importation of high-quality crude oil as the naira-for-crude tenure ended yesterday.
This is as the organisation has expressed their confidence in Bashir Bayo Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL) “given his impressive track record of excellence in the oil and gas industry”.
In a statement signed by Dr Joseph Obele, National Public Relations Officer of PETROAN, urged the refinery operators to ensure that the crude oil imported meets global standards to guarantee the production of high-quality petroleum products.
The association noted “that Nigerian crude oil, classified as Sweet Crude (with less than 0.5% sulphur content), is among the best in the world, and we see no reason why imported crude oil should be of lower standards”.
They expressed the concern that the importation of substandard crude oil will compromise the quality of petroleum products, undermine the growth and development of the Nigerian oil and gas industry, and ultimately harm Nigerian consumers.
They however, call on regulatory agencies to be on high alert and conduct thorough laboratory analysis on all crude oil imports to ensure they meet the required standards. “We also urge the relevant authorities to ensure that refinery operators adhere to the highest standards in their operations, including the importation of high-quality crude oil”.
PETROAN called on the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, to conduct an appraisal of the first phase six duration of the naira-for-crude initiative to ascertain the next line of action towards the best interest of Nigerians.
The association also expressed optimism that the recent increment on the price of PMS is temporary, saying that “The reforms occasioned by the Petroleum Industry Act (PIA) encourages competition in the downstream sector. Competition is a catalyst for price reduction in any sector. We believe that as the market adjusts to the new realities, prices will stabilize and eventually decrease”.
Meanwhile, in a statement by the National President of PETROAN, Dr. Billy Gillis Harry, stated that with pedigree that signals credible service delivery, Ojulari is poised to take NNPC Limited to greater heights.
Congratulating Ojulari on his appointment as GCEO of NNPC Limited, PETROAN stated “We believe that Ojulari’s wealth of experience and expertise in the oil and gas industry will bring about transformative leadership and propel NNPC Limited to greater heights.
They commended the outgoing GCEO, Mele Kyari, for his remarkable achievements during his tenure, saying “His efforts in rehabilitating the Port Harcourt and Warri refineries, which resumed petroleum production after prolonged shutdowns, are particularly noteworthy.
“Furthermore, his leadership played a crucial role in improving Nigeria’s crude oil production volume, which has had a positive impact on the country’s economy. History will indeed reward him for his contributions to the growth and development of the Nigerian oil and gas industry”.
They added that they are confident that President Bola Tinubu’s decision to appoint Ojulari as the new GCEO is the best choice and the right man for the job. “His appointment is a testament to the President’s commitment to appointing competent and experienced individuals to key positions”.
Harry said as a key stakeholder in the downstream sector, PETROAN is committed to supporting the new GCEO in any dimension to achieve his goals and ensure the success of NNPC Limited.
“We are poised to collaborate with him to address the challenges facing the industry, promote the growth and development of the Nigerian oil and gas sector, and ensure the delivery of quality petroleum products to the Nigerian public.”
Harry urged all stakeholders to “give the new GCEO the necessary support and cooperation to enable him succeed in his mandate”.
He further congratulated the new board of NNPC Limited, led by Ahmadu Musa Kida as non-executive chairman, on their appointment. “We believe that the new board, with its wealth of experience and expertise, will provide the necessary guidance and support to the new GCEO to achieve the company’s strategic objectives”, Harry added.