. As new EVP Upstream, harps on corporate governance, transparency
By Tochukwu Bliss, Abuja
The NNPC Ltd today clarified that the Port Harcourt Refining Company (PHRC) has not yet commenced bulk sales or opened its purchase portal, as essential processes are still being finalized.
NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, in a statement this evening said: “Currently, the products we are selling originate from the Dangote Refinery and include applicable NMDPRA fees.
“Products from PHRC are exclusively for our retail stores at this stage.”
He added that “Our pricing is reviewed and adjusted periodically as necessary to reflect operational realities.”
And went further to “advise the public to disregard any misleading information regarding pricing. Official announcements will be made if and when price reviews occur.”
NNPC will provide enablers that will accelerate the implementation of initiatives that will enhance governance, risk management and compliance in the upstream sub-sector.
This comes as the NNPC’s new Executive Vice President, Upstream, Udobong Ntia, charged upstream stakeholders in the nation’s oil and gas industry to strengthen corporate governance, transparency and efficiency in their operations.
Mr. Ntia was quoted to have spoken during an Upstream Governance, Risk and Compliance Workshop, themed: “Enhancing Governance, Risk and Compliance in Nigeria’s Upstream Sector” held in Lagos, on Tuesday, according to the Chief Corporate Communications Officer, Olufemi Soneye, in a statement.
He stressed that governance, risk management, and compliance are at the foundation of NNPC Ltd’s core values of Integrity, Excellence, and Sustainability.
He commended the upstream leadership and regulators for supporting the initiative to assemble stakeholders to discuss issues that have a bearing on individual and collective success towards attaining the clear mandate of sustainably ramping up the nation’s crude oil production.
The EVP also reiterated his readiness to provide enablers within his purview that will accelerate the implementation of initiatives that will enhance governance, risk management and compliance in the upstream sub-sector.
The workshop had in attendance NNPC Ltd’s Chief Compliance Officer, Nasir Usman; and NNPC Ltd’s Chief Upstream Investment Officer, Bala Wunti.
There were also representatives of industry regulators such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC); the Nigerian Content Development and Monitoring Board (NCDMB), and over 20 upstream operators from the International Oil Companies (IOCs) in Nigeria.
