NNPC To Unbundle Subsidiary PPMC

Must Read

Again Emir Sanusi Hammers On Problems In Northern Nigeria

Muhammad Sanusi, emir of Kano, has come hard on fathers who do not take responsibility for their children and...

Senate Moves To Create Agency For Repentant Boko Haram Members

The Senate has initiated plans to establish a rehabilitation, deradicalisation and integration agency that would cater for repentant Boko...

Buhari Cares More For Boko Haram Than Law Abiding Citizens: Omokri

Reno Omokri, a staunch critic of the APC led administration has expressed that President Muhammadu Buhari loves Boko Haram...

Buhari Will Not Resign: Lai Mohammed

The Minister of Information and Culture, Lai Mohammed, says Nigeria's President Muhammadu Buhari will not resign his position over...

Why We Have Many Empty Seats During Plenary At National Assembly – Akin Alabi

Ever wondered why there are so many empty seats during the plenary session at the National Assembly?, well the...

emmanuel-ibe-kachikwu

The Nigerian National Petroleum Corporation (NNPC), Wednesday, stated that it has commenced the unbundling o‎f the Pipelines and Products Marketing Company (PPMC) into three different companies — a storage, pipelines and products marketing companies.

The PPMC was set up in 1988 with the objective to provide excellent customer services by transporting crude oil to the refineries and moving white petroleum products, according to the NNPC website. However, with the ongoing restructuring of the state oil company, its subsidiaries are being visited to evaluate them and restructure the ones needing it.

Group Managing Director of the NNPC, Dr. Ibe Kachikwu disclosed this during a tour of the Okrika Jetty and the Port Harcourt Refining Company (PHRC) Limited.

“The PPMC would be split into a pipelines company that would focus primarily on the maintenance of the over five thousand kilometers pipelines of the Corporation;a storage company that would maintain all the over 23 depots and a products marketing company that would market and sell petroleum products,” Kachikwu said.

He maintained that the move would ensure that the right set of skills are rightly positioned and the number of leakages in terms of pipelines break and products loss are reduced to the barest minimum.

Kachikwu also disclosed that the country’s refineries would not be sold but joint venture partners with established track records of success in refining would be invited to support the running of the refineries in order to ensure efficiency.

He added that the ongoing phased rehabilitation of all the state-owned refineries would be given an accelerated vigour with the aim of reducing petroleum products importation into the country, adding that at full capacity, all the refineries could supply only 20 million litres of premium motor spirit otherwise known as petrol on a daily basis.

On her part, the Managing Director of Pipelines and Products Marketing Company Limited, Mrs. Esther Namdi-Ogbue assured the GMD that the company would think outside the box to provide solutions to all the challenges confronting the Company.

- Advertisement -
Ad ==> Discover how a young Nigerian graduate now makes a consistent 40k per week doing a legitimate online business. You too can start yours now, click here!!!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -