Thursday,
August 30, 2018 08.34AM / By Ndu Ughamadu**
Utah holds the largest reserves of oil sands in the United States, but up until
now, no company had the technology to exploit these vast resources.
In a bid to consolidate its foothold on the shipping business in Nigeria and
boost profitability, the Nigerian National Petroleum Corporation (NNPC), has
unveiled plans to set up a subsidiary to provide refueling services to ships
and other ocean-going vessels.
A
statement by the corporation’s Group General Manager, Group Public Affairs
Division, Mr. Ndu Ughamadu, stated that the Group General Manager, NNPC
Shipping, Mrs. Aisha Katagum, made the disclosure in an interview published in
the August edition of NNPC News, the corporation’s in-house journal.
Speaking
on the plan to set up the bunkering subsidiary, the GGM Shipping said:
“Actually, the NNPC Group Managing Director (GMD) is also very keen on that. He
has directed the Corporate Planning & Strategy (CP&S) Division to come
up with a business model for us to see how it could operate”.
According
to Mrs. Katagum, the bunkering subsidiary was most likely going to be an
incorporated company like Nidas, a subsidiary under NNPC Shippping, adding that
the proposed company would likely be domiciled in the NNPC Shipping Division
too.
On
the prospect of the company, she enthused: “I’m sure it’s going to be a big
business because we have so many vessels that come into the West African Coast.
This year alone, over 120 vessels have brought imports for us.”
Nikorma
and Marine Logistics are two other downstream subsidiaries under the NNPC
Shipping Division. While Nikorma engages in shipping and transportation of
energy products, Marine Logistics on the other hand, provides logistics
services to the crude and petroleum products and gas sub-sector, with a mandate
to effect demurrage reduction and ensure safe and efficient coastal
distribution of petroleum products.
The
full interview entitled, “Why We Prefer Free on-Board Rule for Shipping Oil –
Katagum”, is published in the August edition of NNPC News, a monthly
publication of the corporation, currently in circulation.
**Ndu Ughamadu is the Group General Manager,
Group Public Affairs Division, NNPC, Abuja.
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