Thread by @toluogunlesi

#StateHouseBriefing has kicked off.

Two 1967 laws governed the Nigerian Petroleum Industry, for decades, until PMB assented to the PIA in August 2021. No substantial change in those laws since 1967, says @MKKyari

Watch live:

“I believe that by the middle of next year, @nnpclimited will be IPO-ready.” — @MKKyari

“Our vision is to be the dynamic global energy company of choice.”

#StateHouseBriefing

.@MKKyari: We are restoring the refineries, to at least 90% of installed capacity. We will have an O&M contract, we will not run the refineries ourselves. We will hand over the restored refineries to O&M contractors to run. This is what we failed to do in the last 43 years.

As part of Nigeria’s National Energy Security Strategy, @nnpclimited has taken 20% equity in Dangote Refinery.

#StateHouseBriefing

.@nnpclimited is a participant in #ExecOrder7. More than N600B to be invested. CEO says the Company considers it a responsibility, as its heavy trucks contribute to road damage across the country.
#StateHouseBriefing

@MKKyari speaks on collaboration with Nigerian Military & other security agencies, to tackle crude oil theft.
Since April 2022, the following arrested/destroyed: 11 vessels, 30 speed boats, 179 wooden boats, 37 trucks and cars, 959 metal tanks, 737 ovens, 452 dugout pits, etc

@MKKyari: I must commend the Nigerian Navy @NigerianNavy for doing a very good job, and together we’re severely curtailing oil theft and vandalism. #StateHouseBriefing

We have also launched a Reporting Portal, stopcrudetheft.com

Group CEO, @nnpclimited, @MKKyari: We have put up a control centre, it started in April 2022; it’s not yet on the level of the Saudi Aramco control center that’s circulating in a viral video, but we are on our way there.

#StateHouseBriefing

GCEO @nnpclimited: Even if all our 4 refineries (in 3 locations) are operating at 90% capacity, they will only be able to produce 18m liters of PMS (daily). Which means there will still be a net deficit of PMS, and we will still need to import PMS.

#StateHouseBriefing

@MKKyari: We have the first right of refusal to supply crude oil to the Dangote Refinery. We also have access to 20% of the refinery’s production, as part of our equity.

#StateHouseBriefing

.@MKKyari: We will establish a National Reserves Company that will manage our network of pipelines and depots and maintain Nigeria’s strategic national petroleum reserves.

#StateHouseBriefing

@MKKyari: We’re engaging Private contractors to help secure oil infra in the communities. We’re not dealing with Tompolo, we’re dealing with corporate entities that were selected through the requisite tender process. Of course Tompolo may have an interest within the entities.