Thursday, 20 December 2012

NNPC Cautions IOCs over False Allegations of Stalling Projects

The Management of the Nigerian National Petroleum Corporation, NNPC has raised eyebrows on media reports credited to some International Oil and Gas Companies, IOC’s accusing it of deliberating stalling the execution of some multibillion dollar projects in the sector. 

The NNPC, through a statement made available to STV, held that it will not be stampeded or browbeaten into abandoning its firmly established process of contract award by what it termed calculated media blackmail ostensibly by the IOCs and other interested parties.

  The statement which was signed by the Acting Group General Manager, Group Public Affairs Division, Fidel Pepple noted that while the Industry concern is normally expected in the process leading to the award of major Oil and Gas Projects, ``NNPC has an established procedure of contract and project approval which includes conduct of economic analysis to establish project viability and Federal Government’s take from investments in the upstream’’.


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