NNPC Can Account For Every Barrel of Oil Sold in Nigeria
The Nigerian National Petroleum Corporation says it can
account for every barrel of oil sold in the country.
The Group General Manager, Crude Oil Marketing Division of
the Corporation, Malam Mele Kyari, said this in Abuja on Thursday in
a statement by the NNPC Spokesman, Mr Ndu Ughamadu.
According to Kyari, NNPC had achieved 98 per cent automation
of all transactions involving the supply, marketing and sale of the various
grades and blends of Nigeria’s crude oil across the world.
He said that the exercise, which would be concluded in 2018,
had enabled the corporation to achieve an end-to-end monitoring of every barrel
of crude oil sold in the country.
Kyari said that the projection was to operate a complete
paperless crude oil data management regime in line with the ongoing
transformation of the processes which had witnessed sweeping reforms since
2015.
The reforms include the open bid process of customer
selection for lifting and purchase of Nigeria’s crude oil grades, emplacement
of efficient crude for product import processes leading to savings of 1 billion
dollars in one year.
Other reforms include the introduction of improved pricing
system, which has evolved into a robust pricing mechanism.
“The reform has led to the harmonisation of Nigeria’s crude
oil data and lifting information, providing access to major
internationally-recognised reporting agencies like Plat and Argus Media to
achieve real-time reporting of Nigeria’s crude oil transactions.
“This development also enabled the country to eliminate the
perennial disagreement with its major stakeholder, the Organisation of
Petroleum Exporting Countries on actual production and lifting figures.
He said that NNPC would continue to engage members of the
public and other critical stakeholders to keep them abreast of innovations in
the supply, marketing and sale of the various grades and blends of Nigeria’s
crude oil across the world.
FROM NAN
No comments