The Organisation of the Oil Exporting Countries (OPEC) has assured the Nigerian National Petroleum Company Limited (NNPC Ltd) of support to boost the country’s oil production and attract investments.
Olufemi Soneye, the chief corporate communications officer of NNPC Ltd, disclosed this in a statement on Wednesday, after OPEC Secretary General, Haitham AI-Ghais paid a visit to Mele Kyari, the Group Chief Executive Officer of NNPC Ltd in Abuja.
According to the statement, Mr Al-Ghais said OPEC aligned with NNPC Ltd’s vision as captured in its payoff line “Energy for Today, Energy for Tomorrow” because of its inclusive view of energy as opposed to the view being pushed in some quarters that some sources of energy were bad.
Al-Ghais said about $14 trillion in investments will be required by the year 2035 to fulfil global demand for energy, even in the face of increasing pushback against oil and gas across the globe.
“We will continue to ensure that the market is stable. The global market has to be stable in order for Nigeria to be able to attract investors. If there’s volatility, if there’s no stability in the market, it will only create havoc for everybody, whether it’s a producer or consumer country. So, we will continue to do that in OPEC. We count on Nigeria’s support”, Al-Ghais said
The Secretary General noted that the oil bloc is striving to ensure market stability, adding that only through a stable market climate can Nigeria attract investment.
While on his part, Kyari said NNPC Ltd. was working very hard to recover lost production and provide the right fiscal environment to attract investments.
He expressed appreciation to OPEC for its support to Nigeria, noting that the company will continue to support the organisation in whatever way it could.
