As opposed to the presumptions that the value of crude oil will diminish before 2040, the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, is certain that fuel will remain vital for decades in the global energy mix.
Kyari said this on Wednesday, September 25, when he hosted in his office in Abuja, members of the Indian Army War College who were touring Nigeria.
According to him, Nigeria has potent crude oil ratings coupled with high global demand also with the determination of NNPC, Nigeria’s production by 2023 would have increased to three million barrels per day.
He said Nigeria’s crude oil grades were rich with high global demand and that the NNPC was determined to grow Nigeria’s production to three million barrels per day by 2023.
The NNPC’s General Manager also noted that energy security is important to ensure Nigeria’s territorial integrity and growing its economy.
Kyari said, “Energy security is everything in terms of national security. The recent attack on Saudi oil facility is one incident which has attracted global attention and has the potential to impact the global economy.”
Speaking, the leader of the delegation, Brig. Gen. Sudhir Malik, noted that India has the largest trade partnership with Nigeria and oil has a larger ratio of it.
Meanwhile, the NNPC and the Major Marketers Association of Nigeria has agreed to work in tandem for the purpose of boosting the petroleum industry.
Their decision formed part of collective efforts to guarantee energy security in the country.