Oil & Energy
NNPC Bid: We’ll Ensure Accountability – GMD
Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Maikanti Baru has assured that the bid for the sales and purchase of Nigerian crude oil grades will be transparent.
Baru said this in Abuja on Thursday when he declared the process open.
According to him, the crude oil contract tenders are to ensure transparency, enshrine accountability and conduct business in line with best global practices.
“Today’s event marks yet another turning point in our quest to further enshrine transparency and accountability, two critical core values of our Corporation.
“Our focus as a national oil company is to enhance our production volumes, ensure the best value is realised through competitive marketing of our crude grades to international refineries and traders.
“In line with this aspiration, NNPC is collaborating with key stakeholders to improve on the overall security of our production sites and to ensure the safety of our environment.
“Today, we are therefore opening this bid before the entire world in line with President Muhammadu Buhari’s drive for transparency and accountability in the conduct of government business.
“We received 224 bids as at the 12:00 noon deadline today. May the best bids win.”
Earlier, Group General Manager, Crude Oil Marketing Division, Mr Mele Kyari, while giving account of the sales of the crude, dismissed reports that only China was buying Nigerian crude.
He said China bought one cargo but Europe remained the major buyer followed by Asia.
On global oil prices, he explained that the major challenge was that supply continued to exceed demand.
This, he said, would continue to affect the oil price in a couple of years to come.
SOCA oil, Bell point and Northwest were called to the stage to confirm their bids and they all confirmed it was intact.
This year’s number is an increase from the 218 bids the NNPC received in 2015/2016.
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Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
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