FX RATES
FX RATES

Department Of Petroleum Resources Will Continue To Support NNPC

The Department of Petroleum Resources (DPR) has said that it would continue to play its support role to the Nigerian National Petroleum Corporation (NNPC) as a business enabler to deliver value to Nigerians.

This is as the oil and gas regulator has expressed its commitment to oil exploration in the country and appreciates the effort of NNPC to ensure that more volumes were out to help the country make more money through royalties.

This was made known by the Director/Chief Executive Officer of DPR, Mr  Sarki  Auwalu, when a delegation of NNPC management team led by the Group Managing Director, Malam Mele Kyari, visited the DPR on Tuesday in Abuja.

According to NAN, Auwalu said that it does not stand to look for faults as a regulator, but would rather help operators to deliver on business mandates to boost economic activities.

Auwalu in his statement said, “Being a regulator is trying to catch people that you regulate doing something right, not the other way round; it is better for us to come together like you have done today.

“The most important thing for us is to help operators do something right. Our own is to enable business and create opportunity, and for everything we do, especially for our own company like NNPC, it is to ensure the success of the company.

“This is because the success of the company is the success of Nigeria, and coming together like this is great, and that is why we are excited that the GMD and his team is visiting us, the first in history of this organization.’’

He said that the collaboration between DPR and NNPC would encourage transparency and efficiency, adding that it was a commitment to business and efficiency that led to the posting of profit by the NNPC.

Auwalu was full of commendation for the GMD for the various landmarks he had created that had helped to transform the operations of the NNPC which history would not forget and thanked him for the visit to the department.

He said, “Today in the whole world after 44 years, this is the first year NNPC has recovered and declared profit. We are so proud of it and we put our head high in the comity of nations that our biggest corporation in Nigeria is no longer the way it is being seen.’’

“What we are doing is to guarantee the success and stability of what you have already done. DPR, looking at the success and strategy you embarked on, had created a platform to help consolidate the assets, the licenses, permits and approvals we have issued.’’

He noted that DPR was committed to oil exploration in the country and appreciated effort of NNPC to ensure that more volumes were out to help the country make more money through royalties.

The DPR boss also commended NNPC’s effort to enhance production and encourage new production reservoirs, adding that the profit declared by NNPC had opened a floodgate for investors to the country.

Also speaking at the occasion, the NNPC GMD thanked the DPR for the support it had been giving to the corporation, which had helped the NNPC operations, adding that the aim of the visit was to demonstrate how high the corporation held DPR and its strategy as a business enabler.

FEATURED PRODUCTS