NIPCO plans to increase its investment in the petroleum sector, which will help to improve the distribution of products throughout the country.
Making the revelation at the company's 18th Annual General Meeting in Abuja, NIPCO Plc Managing Director/CEO Suresh Kumar said NIPCO is ready to take advantage of the opportunities provided by the Petroleum Industry Act (PIA) to further its Mission to meet the needs of stakeholders in the deregulated downstream sector of the national oil and gas industry.
Kumar said that 2022 is a very important year for operators in the hydrocarbon industry, with the implementation of the PIA and the accompanying reforms. Among these changes, the deregulation of the downstream sector will be especially important. Thank you to the Federal Government for passing the Act.We are hopeful that it will help support the growth of the hydrocarbon industry, and we plan to take advantage of the business opportunities that it offers within the right environment.
He said NIPCO is committed to remaining a leading player in the downstream sector under the PIA, being transparent, diligent, and practicing sound corporate governance in the best interests of its stakeholders.
Kumar said that the company is committed to consolidating its past successes and taking full advantage of the industry's great potential in order to propel the company forward into even greater heights. He told the investors that 2021 is a challenging year for the economy because of COVID-19 and its deadly variants.
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He praised the Federal Government's efforts to ensure that LPG prices are within the reach of the populace, and called for smooth implementation of its gas development initiatives. The NIPCO boss said that the National Gas Expansion Programme (NGEP) is making giant strides towards improving local supplies and saving the nation a great deal of money.
Making the revelation at the company's 18th Annual General Meeting in Abuja, NIPCO Plc Managing Director/CEO Suresh Kumar said NIPCO is ready to take advantage of the opportunities provided by the Petroleum Industry Act (PIA) to further its Mission to meet the needs of stakeholders in the deregulated downstream sector of the national oil and gas industry.
Kumar said that 2022 is a very important year for operators in the hydrocarbon industry, with the implementation of the PIA and the accompanying reforms. Among these changes, the deregulation of the downstream sector will be especially important. Thank you to the Federal Government for passing the Act.We are hopeful that it will help support the growth of the hydrocarbon industry, and we plan to take advantage of the business opportunities that it offers within the right environment.
He said NIPCO is committed to remaining a leading player in the downstream sector under the PIA, being transparent, diligent, and practicing sound corporate governance in the best interests of its stakeholders.
Kumar said that the company is committed to consolidating its past successes and taking full advantage of the industry's great potential in order to propel the company forward into even greater heights. He told the investors that 2021 is a challenging year for the economy because of COVID-19 and its deadly variants.
,
He praised the Federal Government's efforts to ensure that LPG prices are within the reach of the populace, and called for smooth implementation of its gas development initiatives. The NIPCO boss said that the National Gas Expansion Programme (NGEP) is making giant strides towards improving local supplies and saving the nation a great deal of money.
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