NIGERIA-MOROCCO GAS PIPELINE TO BE TAKEN IN DECEMBER-KYARI 20-03-24
By Sadiq Aminu The Group Chief Executive Officer of the Nigeria National Petroleum Company limited, Mr. Mele Kyari says there is an ongoing engagement on the Nigeria-Morocco Gas Pipeline Project (NMGP), which is at an advanced stage, to create a pipeline that will pass through thirteen African countries and all the way to Europe.
He hinted that the Final Investment Decision (FID) for the $25bn Nigeria-Morocco Gas Pipeline (NMGP) Project will be made by December 2024.
He stated that, as the largest oil and gas company and corporate entity in Africa, NNPC Ltd is critical to Nigeria’s resource management and economic development.
He observed that the Petroleum Industry Act (PIA) 2021 has reformed Nigeria’s oil and gas industry, by ensuring that NNPC Ltd. emerged as a fully commercial entity that is not only accountable and responsible to its shareholders but also one that is on the pathway to getting quoted on the stock exchange.
Kyari said Nigeria is fighting the menace of crude oil theft frontally, and through the joint efforts of the government and private security agencies, there have been some reasonable improvements in the restoration of the nation’s crude oil production.
“It is an abnormal situation, but it is well within control. We were able to recover some of our production and build back confidence so that investors could bring in their money. We are also doing global advocacy for governments and institutions because stolen oil has to be taken to the market,” he stated.
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