Nigeria and India announces plans to deepen ties in crude oil supply just as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, said that fossil fuel would stay relevant in the global energy mix. The news came out from the spokesman for NNPC, Ndu Ughamadu bow out of the Corporation at a ceremony shielded away from media.
Adversely to assumptions in some quarters, crude oil demand, Kyari said in a statement signed by Makoji, it would be very high even beyond 2040.
“The NNPC GMD made the declaration in his office in Abuja, he received members of a Higher Command Course of the Indian Army War College on a geo-strategic tour of Nigeria,’ said the statement.
Kyari advocated the uniqueness of Nigeria’s crude oil grades as rich crude with massive global demand, saying NNPC was persistent to rise Nigeria’s production to 3million barrels per day by 2023 to enable Nigeria take advantage of the gap that exists in the demand-supply balance.
He emphasized the age-long bilateral relations between Nigeria and India, which cut across trade, military cooperation and international peace keeping, among others.
The GMD elaborated on NNPC’s mandate cut across satisfying domestic energy needs and contributing to global energy market, especially crude oil and Liquefied Natural Gas (LNG) deliveries across the world.
He expressed energy security as a crucial factor in promising Nigeria’s territorial integrity and growing its economy.
“Energy security is everything in terms of national security. The recent attack on Saudi oil facility is one instance which has drawn global attention and has the potential to impact global economy,” Kyari stated.