"We Are Ready": NNPC Sends Message to Shell, Others Planning to Abandon Nigeria's Oil
- Mallam Mele Kyari, NNPC Limited's boss, has told Shell and other oil companies that there are no plans to abandon Nigeria's oil resources
- There has been a major global push for oil companies to shift focus to cleaner energy
- Kyari believes that despite the clean energy push, the world will continue to need crude oil
Nigeria will continue to explore its oil resources, even if international oil companies decide to take a walk amid pressure to shift to clean energy.
This is the message from Mallam Mele Kyari the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC).
Source: Facebook
NNPC and the future of Nigerian Oil
In recent months, there have been reports that top international companies like Chevron and ExxonMobil, which are operating huge oil assets, are planning to exit Nigeria.
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Also, Shell Plc plans to keep investing in its renewables and energy solutions business steadily this year after it hit an all-time high in 2022
There is additional pressure from Europe and America on Nigeria and other oil-producing countries to jettison their resources in pursuit of cleaner fuels.
Reacting at a recent lecture in Abuja, Kyari explained that despite the pretence, the world would not abandon fossil fuels anytime soon.
Kyari stated that it is not feasible to replace all the vehicles and tricycles in Nigeria with electric vehicles between now and 2035; therefore, crude oil will remain relevant.
ThisDay reports that Kyari further noted that the NNPC had made massive investments to make sure its focus is on gas exploration works, insisting that:
“But no one is going to help, so for us, we need to resort to self-help.”
“We need the cash flow, and the cash flow is what we need to make sure tomorrow we become self-reliant. Therefore, we are leveraging the position of the oil industry."
The GCEO explained that Nigeria, as a resource-rich country with opportunities for sustainability, creates prosperity.
He added:
"With NNPC Limited as a fully commercial enterprise, Nigeria, we are well positioned to lead the African continent in a just and gradual energy transition."
Nigeria sold N21tn worth of crude oil in 2022
Meanwhile, another report revealed that Nigeria sold N21.09 trillion worth of crude oil in 2022.
The sales recorded a 46.41% increase compared to N14.41 trillion in 2021.
NBS captured the sales in its fourth quarter foreign trade report obtained by Legit.ng from its website.
Source: Legit.ng
