…To Unveil Twelve CNG Stations By Q1 Of Next Year
The Nigerian National Petroleum Company Ltd on Monday said that contrary to narratives being pushed in some sections of the media, it is untrue that it was sabotaging the refining of petroleum products in some domestic refineries in the country.
The Group Chief Executive Officer of the NNPC Ltd, Mallam Mele Kyari said this at the 42nd Nigerian Association of Petroleum Explorationists Annual International Conference and Exhibition.
The theme of the event was, ‘Resolving the Nigerian Energy Trilemma – Energy Security, Sustainable Growth, and Affordability.’
There had been claims in some quarters that NNPC Ltd had been sabotaging the efforts of some refineries in the country by not providing crude oil for refining into petroleum products.
But speaking on the development, Kyari said that the national oil company has been supportive of the refineries by providing them with the crude needed to refine petroleum products.
In a demonstration of such support, the GCEO said that the NNPC Ltd is a part owner of the Dangote Refineries and Petrochemical Company.
The NNPC Ltd currently has about 7.2 per cent equity stake in Dangote Refinery valued at about $1bn.
Kyari said, “On domestic refinery, there are several media stunts that you see around NNPC, around why NNPC is now a saboteur to domestic refining. The NNPC is not willing to support domestic refining. The truth is very far from it and I must speak to it straight.
“We are very proud part owners of the Dangote Refinery, there is no doubt about it. We saw an opportunity that is a clear market for at least 300,000 barrels of our production we know that as time moves on, people will start struggling to find a market for their production, it will happen, it is already happening.
“Oil is found in very many unexpected locations today across the world and people have choices. Therefore, we saw an opportunity to unlock supply to the domestic refineries not just the Dangote but any other refinery that operates in the country.
“So, it was a very informed business decision. Therefore, from day one, we knew that it was to our benefit to supply crude oil to the domestic refinery. We don’t need to be persuaded or anyone to talk to us. There is no need for any pressure from the street for us to do this, we are already doing this.”
The NNPC Ltd Boss also said that the company is unlocking the enormous gas potential in the country by ensuring their usage for vehicles and industrialization.
Specifically, he said that NNPC Ltd is committed to driving the Compressed Natural Gas initiative by making more investments in that sector.
Already, the NNPC Ltd had set up 12 CNG centres in the last 12 months, with six in Abuja and six in Lagos.
Kyari said that substantial work has been done by the NNPC Ltd to deliver gas to Nigerians as it is an affordable and cleaner energy source.
He told the gathering that by the first quarter of next year, there would be at least twelve mother stations that will be available for CNG.
He added that NNPC Ltd is also building a mini LNG plant that will deliver gas into the market and also sustain the growth in CNG delivery.
He said, “Substantial work is going on to deliver gas through CNG as automobile fuel for vehicles. Today and I can confirm to you, by quarter one of 2025, there will be at least twelve mother stations that will be available for CNG.
“Not only that, but we are also building a mini LNG plant that will deliver gas into the market and also sustain the growth in the CNG delivery, making gas available to mini power plants and other gas industries in the short term.
“This will do two things; first bring cheaper fuel, cleaner fuel and also utilize the numerous resources that we have in our country. There is a growing middle class in this country that needs it when you scale up power, they are there to take it. Energy is a good business for every one of us.”
– Ifeanyi ONUBA and Kasarachi ANIAGOLU