NNPC to partner with National Assembly on petroleum initiatives

During a recent visit to the Nigerian National Petroleum Corp. (NNPC), Nigeria's Minister of State for Petroleum Resources and NNPC Managing Director Ibe Kachikwu announced the corporation's plans to partner with Nigeria's National Assembly on modernizing and streamlining Nigeria's petroleum industry.

This joint venture will help NNPC launch additional retail outlets so petroleum products are more readily available in more areas for emergency needs.

As crude oil prices continue to fall all over the world, NNPC has been forced to seek out local and international investors to keep the industry solvent and complete planned capital projects. Funding has also been obtained through Nigeria's Treasury Single Account.

Additionally, Nigeria's Pipelines and Products Marketing Co. (PPMC) has undergone a revamping and is now a pipeline, products marketing and storage company.

Chairman of the House of Representatives Committee on Petroleum Downstream Joseph Akinlaja accompanied Kachikwu on the visit, where presentations were given by representatives of the PPMC and NNPC Retail.