Press zooms in on assurance of no alteration of Electoral Act Amendment Bill, others apanews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apanews.net Daily Mail and Mail on Sunday newspapers.
Emmanuel Addeh in Abuja and Peter Uzoho
The Nigerian National Petroleum Corporation (NNPC) yesterday stated that, along with its partners, the national oil company was set to earn over $760m from various fresh agreements on gas supply.
The deals on the Oil Mining Lease (OML) 130 included a Production Sharing Agreement (PSA), Production Sharing Contract (PSC), Gas Supply Purchase Agreements (GSPAs) and Gas Entitlement Agreement (GEA).
The agreements which are part of the corporation’s gas commercialisation programme involve Total Exploration and Production Nigeria (TEPNG), China National Offshore Oil Corporation (CNOOC), South Atlantic Petroleum Nigeria Limited (SAPETRO) and Prime 130 Limited.
The sale structure under which the agreements were executed is designed to provide a clear delineation for the allocation of the gas sale proceeds to all the participating parties, including midstream handling and transportation.
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For Mele Kyari, it will be two years in the saddle as the Group Managing Director (GMD) of the NNPC, a period that has tried his guts and gusto.
The geologist was appointed in 2019 to manage the state-run oil Corp and average oil price when he was given the responsibility to run NNPC was $56.99 per barrel.
His jobs were immediately cut out: manage the corporation’s fiduciary responsibilities to Nigeria in the midst of the volatile and keep it afloat regardless.
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Indeed, Kyari’s selection to head the NNPC was roundly applauded by his colleagues in and out of the corporation.
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