Bayo Ojulari, Group Chief Executive Officer, of the Nigeria National Petroleum Company Limited, has alleged that there are plot to remove him from office, stating there were threats against him and staff of the company.
Ojulari who disclosed this during a meeting with the leadership of PENGASSAN in Abuja on Thursday, said that the implementation of reforms in the oil and gas sector has been seen as an offence by many. He added that that efforts are ongoing to revive the moribund refineries to operate in full capacity, adding that the management is considering the NLNG module to that effect.
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He also assured that despite the threat, he remain committed to ensuring that the nations refinery is revived and made to work optimally.
He said: “I’m not hiding to anybody. I’m not a politician. I will have to learn a bit more about politics, but it’s a development plan for me, right? And I’m ready to learn.”
According to Ojulari, the operations of the Port Harcourt refinery was leading to at least N500 million loss monthly, as it was producing only about 40 percent of crude pumped into it.
He explained that the technical and commercial review of the facilities has been completed, with findings showing that the most viable option is to bring in professional international refiners for joint operation.
“We have concluded that the best way forward is to get a true professional refining company to join us to cooperate the refinery. We are negotiating with some international refiners on this model,” he added.
Ojulari also noted that pursuing reforms in a regulated oil and gas industry is expected to attract resistance. He however insisted that NNPCL would only pursue sustainable reforms without political interference.
“The President has not put pressure on me to do the wrong thing. The mandate is to ensure sustainability. There is no negative political pressure for NNPCL to continue running at a loss,” he said.
In his remarks, Festus Osifo, President of PENGASSAN urged that the NNPCL reduce its stakes in the refineries and allow majority private-sector ownership. This move he said would limit political interference and ensure efficiency in the operations of the refineries.
He commended the company’s efforts in curbing oil theft and restoring pipelines, which he said had boosted daily crude production
“We are happy that production is going up. Almost all the pipelines are no longer compromised. This did not come by sheer luck but by hard work,” he said.
