• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, June 23, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Shameful for importing petrol

The Matters Press by The Matters Press
August 6, 2019
Reading Time: 3 mins read
0
Stable petrol supply excites Buhari

Petrol tankers

Petrol tankers

The new Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Malam Mele Kyari, says it is a shame that Nigeria remains a net importer of petroleum products in spite of being the sixth largest oil producer in the world.

RELATED POSTS

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

ECOWAS, Sahel states in deal to confront terrorism

Kyari said this at the opening of the 2019 annual conference and exhibition organised by the Society of Petroleum Engineers on Monday in Lagos.

He, however, promised to fix the country’s refining challenges.

The theme of the conference is “Artificial Intelligence, Big Data and Mobile Technology: Changing the Future of the Energy Industry”.

According to NNPC boss, NNPC is challenged by the reality of its environment as the refineries are not operating optimally.

“Today, we are net importer of petroleum products which is a very big shame for us as a nation. And as for professionals, we can give any excuses, but today it’s a shame that this country is net importer of petroleum, but we are going to change that.

“NNPC is going to get its house together to fix the refineries. We want to make the refineries functional with at least 90 per cent capacity. Also, we want to support those who have the initiatives on refinery, and providing fiscal regime,’’ he said.

Kyari vowed to reverse the trend of petroleum products importation in the country by rehabilitating the existing refineries and encouraging private sector investment in the sub-sector.

“We must end the trend of fuel importation as an oil producing country. We will deliver on the rehabilitation of the four refineries within the life of this administration and support the private sector to build refineries.

“We will support the Dangote Refinery to come on stream on schedule. We will transform Nigeria into a net exporter of petroleum products.’’

He said the age-old Federal Government’s target of raising crude oil production and reserves to three million barrels per day and 40 billion barrels, respectively was possible.

Kyari also said he would galvanise the corporation to achieve the target by 2023.

He said that there was no drought artificial intelligence and big data which remained the issues today, which nobody could dispute.

“This time we are determined, we will work together with stakeholders so that we will deliver on the mandate.

“We will ensure that business environment is clearly diversified. Today, we have issues around fascia regime about contractual challenges which we promised to address.

“We must all work together as stakeholders in the oil and gas industry to bring up the appropriate legislation on the table.

“As you all know that since 1999 till date, effort to get the Petroleum Industry Bill (PIB) passed into law has not worked and this is a big challenge and disappointment for all of us,’’ Kyari said.

Dr Folasade Yemi-Esan, the Permanent Secretary, Ministry of Petroleum Resources, said that in recent years, industry had under gone tremendous changes.

Yemi-Esan said this showed due to the proliferation of new technologies where operators met the challenge of digital technologies.

She said the conference would not have been better discussed than today, adding that it was important to emphasis that stakeholder should not lose sight of the concept of the artificial intelligence.

The permanent secretary said that the artificial intelligence was assisting people in making accurate decision from the created intelligence.

“I am encouraging you all to collaborate to bridge the skill gap required for effective utilisation of artificial intelligence.

“This, especially, in terms of policies and regulatory level since it is the bedrock for operators and other stakeholders can build on.”

She urged business leader in the oil and gas to embrace artificial intelligence and learn from those who had succeeded and invested in the technology.

Earlier, Mr Ahmad Shakur, the Acting Director, Department of Petroleum Resources, (DPR), said the agency had launched automation initiatives.

Shakur listed this to include Crude Oil and LNG Tracking (COLT), Automatic Downstream System (ADS), Accelerated Lease Renewal Program (ALRP) and others.

With these enhanced automation, Shakur said “the DPR can be able to track production, track the movement of that production and the series of I.T based platforms and interventions can conveniently take the agency into the next foray of how oil companies and oil operations in the country should run.’’

He said there were few interventions like the National Production Monitoring System (NPMS) whose focus included using online to gather data.

The director said the DPR was now able to track online/real time data of what the country’s productions.

“The fields are largely tracked online and now the agency can actually feed the nation on what is actual production and from which fields and what is the volume and also identify if there are leakages.

“The COLT which is basically tracking of crude oil and LNG and not just to produce, but to know where it is going to,” he said.

Tags: NNPCPetrol
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Tinubu denies manipulating NASS
Economy/Technology

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

June 20, 2025
Buhari urges Nigerians to maintain peace as he promises free, fair polls
Economy/Technology

TDF extols Buhari for supporting Tinubu’s reforms

June 19, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
News

Tinubu’s mid-term scorecard, a glimpse of coming dividends – TMSG

June 19, 2025
Next Post
Jaiz Bank expands with new branches

Nigeria floats savings bonds

Minimum wage a reality – Labour

Nigeria’s wage crisis lingers

Recommended Stories

Vulnerable Nigerian farmers to get $1m grant

Agency moves stimulate food production through agriculture

January 25, 2024
Economists Challenge IMF on call for further VAT increase in Nigeria

Economic growth in Sub-Saharan Africa to drop to 3.6% – IMF

April 15, 2023
Buhari commissions airport terminal

Concession of Nigeria’s viable airports peaks even as unions kick

December 26, 2020

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF
  • Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years
  • ECOWAS, Sahel states in deal to confront terrorism

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us