Nigeria's NNPC Reduces Oil Production Cost By 70.5%, Saves $3bn Annually

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BARU, Petrol, oil, nnpc
Dr Maikanti, Nigeria's NNPC Boss

“He commended the federal government for its support to the NNPC management in tackling the challenges in the petroleum industry, especially the cash call exit agreement signed in 2016 and the reduction of contracting circle from three years to six months,” the statement read. Sejebor said the new petroleum policy was necessary because of the difficulty in operating the sector with the framework of the old Petroleum Act as the passage of the Petroleum Industry bill has been delayed at the national assembly. He said the policy would restore investors’ confidence in the industry pending the full passage of the entire PIB by the national assembly. He admonished staff to key into the NNPC management’s zero tolerance for corruption. When Maikanti Baru, group managing director of the NNPC, had inaugurated the anti-corruption unit at the headquarters recently, he had directed all the strategic business units (SBUs) and corporate service units (CSUs) to establish their own anti-corruption committees and NAPIMS was the first to comply with the directive. The Cable To Receive Free News Updates, Add To Your WhatsApp: 08033857245; For Adverts Enquiries, Call 08083609209, To Publish Your Articles Or News Stories, Email editor@skytrendnews.com. READ ALSO! Between GoDaddy And Namecheap: Making The Best Choice For Domain Name Registrar READ ALSO! Nigeria’s Economy Might Relapse Into Protracted Recession If… — Country’s Central Bank READ ALSO! The Internet’s Future Lies With Its Next Billion Users — Sundar Pichai, Google CEO READ ALSO! Nigerian Filmmaker, Zuriel Oduwole Makes Forbes List Of 100 Most Influential African Women READ ALSO! Woman Marries Her Son After Getting Pregnant For Him READ ALSO! Smartphone Sales Fall As Samsung, Apple Consolidate Market Share READ ALSO! The Smart CEO: Top 5 Websites To Get Cheap Domain Name Registration ]]>