NNPC Kyari Tasks Petroleum Engineers On Solutions To Challenges In Oil Industry

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mele Kyari has challenged professionals in the country’s petroleum sector to come up with solutions to current challenges facing the industry.

According to a statement by the NNPC spokesperson Kennie Obateru, the GMD listed key challenges facing the industry to be over-supply and the outbreak of the coronavirus which has led to a considerable fall in the price of crude oil.

Kyari said this while hosting the executive members of the Society of Petroleum Engineers (SPE), Nigerian Council, led by the president Joe Uwakwe in Abuja on Tuesday.

The GMD  noted that if the two challenges persist, oil prices may drop very low throughout the year thus impacting negatively on Nigeria’s economy.

 “The combination of these two events means that there would be a break in activities in the oil industry.

He, therefore, urged professionals to come up with a blueprint on how to get things done economically in order to minimize the negative impact of the current situation on the industry.

The GMD, however, said NNPC had repositioned its Research and Development business into an innovation centre that could provide the needed solution and services for technological development in the petroleum industry.

On his part, Uwakwe assured the society would do what is necessary to overcome the present challenges, adding that it required the development of technology to produce crude oil in a cost-efficient manner.