• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
NNPC to Convert Petrol Cars to Autogas Free of Charge

NNPC Will Safeguard Investment With Conditions For IOCs Divestment – GMD Kyari

4 years ago
US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

2 hours ago
Kenya: Man Arrested Over Social Media Post Dies In Custody

Kenya: Autopsy Result Shows Blogger Was Hit, Tortured To Death

2 hours ago
Organisers Postpone U20 WAFU Tournament

Organisers Postpone U20 WAFU Tournament

4 hours ago
Nigeria’s Rivers Hoopers Crash Out Of Africa Basketball League

Nigeria’s Rivers Hoopers Crash Out Of Africa Basketball League

6 hours ago
'Africa Corps' Takes Over From Wagner As Russia Keeps Grip On Sahel Region

‘Africa Corps’ Takes Over From Wagner As Russia Keeps Grip On Sahel Region

7 hours ago
Tuesday, June 10, 2025
  • About
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Cameroon: Police Lay Siege At Opposition Leader’s Home

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    At Tanzania Summit, African Leaders Call For End To DRC Conflict

    Rwanda Exits Central African Regional Bloc Over Row With DRC

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Sudan’s New Prime Minister Disbands Caretaker Government

    Sudan’s New Prime Minister Disbands Caretaker Government

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Tanzania: Lawyers Seek UN Intervention Over Detention Of Opposition Leader

    Heritage Times Congratulates Dr. Sidi Ould Tah As President-Elect Of AfDB 

  • Economy
    Binance

    After His Ordeal In Nigeria, Gambaryan Has Quit His Role At Binance

    Elon Musk Loses $34 Billion Amid Clash With Trump

    Elon Musk Loses $34 Billion Amid Clash With Trump

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    Uganda: Museveni Holds Talks With Elon Musk’s Starlink Executive

    World Bank Lifts Loan Restriction Placed On Uganda Over Anti-Gay Legislation

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    South Africa's Economy Stalls With 0.1% Growth As Structural Challenges Persist

    South Africa’s Economy Stalls With 0.1% Growth As Structural Challenges Persist

    UK Civil Servants Who Used AI Saved Two Weeks A Year, Study Shows

    UK Civil Servants Who Used AI Saved Two Weeks A Year, Study Shows

    Nigerian Govt Warns Popular Car Dealer Against Mocking Civil Servants’ Ability To Afford Luxury Cars

    Nigerian Govt Warns Popular Car Dealer Against Mocking Civil Servants’ Ability To Afford Luxury Cars

    Gabon: Former Coup Leader Sworn In As President

    Gabon To End Export Of Manganese By 2029, Import Of Chicken 2027

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Cameroon: Police Lay Siege At Opposition Leader’s Home

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    At Tanzania Summit, African Leaders Call For End To DRC Conflict

    Rwanda Exits Central African Regional Bloc Over Row With DRC

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Sudan’s New Prime Minister Disbands Caretaker Government

    Sudan’s New Prime Minister Disbands Caretaker Government

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Tanzania: Lawyers Seek UN Intervention Over Detention Of Opposition Leader

    Heritage Times Congratulates Dr. Sidi Ould Tah As President-Elect Of AfDB 

  • Economy
    Binance

    After His Ordeal In Nigeria, Gambaryan Has Quit His Role At Binance

    Elon Musk Loses $34 Billion Amid Clash With Trump

    Elon Musk Loses $34 Billion Amid Clash With Trump

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    Uganda: Museveni Holds Talks With Elon Musk’s Starlink Executive

    World Bank Lifts Loan Restriction Placed On Uganda Over Anti-Gay Legislation

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    South Africa's Economy Stalls With 0.1% Growth As Structural Challenges Persist

    South Africa’s Economy Stalls With 0.1% Growth As Structural Challenges Persist

    UK Civil Servants Who Used AI Saved Two Weeks A Year, Study Shows

    UK Civil Servants Who Used AI Saved Two Weeks A Year, Study Shows

    Nigerian Govt Warns Popular Car Dealer Against Mocking Civil Servants’ Ability To Afford Luxury Cars

    Nigerian Govt Warns Popular Car Dealer Against Mocking Civil Servants’ Ability To Afford Luxury Cars

    Gabon: Former Coup Leader Sworn In As President

    Gabon To End Export Of Manganese By 2029, Import Of Chicken 2027

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

NNPC Will Safeguard Investment With Conditions For IOCs Divestment – GMD Kyari

August 3, 2021
in Economy, Top Stories
0
NNPC to Convert Petrol Cars to Autogas Free of Charge
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By John Ikani

The Nigerian National Petroleum Corporation (NNPC) has assured that it would protect the interest of Nigeria in any transaction involving International Oil Companies (IOCs) interested in divesting from the country.

Relatedreading

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

Kenya: Autopsy Result Shows Blogger Was Hit, Tortured To Death

NNPC Group Managing Director Mele Kyari, who stated this in Abuja at the opening ceremony of the 2021 Society for Petroleum Engineers (SPE) Annual International Conference and Exhibition, said the Corporation, plans to develop a comprehensive divestment policy for the IOCs operating in the country.

Kyari who noted that the move is to protect strategic national interest, said the NNPC cannot stop any of the oil concerns from deciding to sell off any of their assets as far as the rules are followed.

The NNPC boss was obviously speaking against the backdrop of reports at the weekend of plans by Royal Dutch Shell, to fully sell off its subsidiary, Shell Petroleum Development Company (SPDC) because the company’s future plans no longer align with the operations of the Nigerian subsidiary.

The company did not deny the planned sale, but said consultations were still ongoing, although still at the early stages.

Noting that such divestment could create challenges for stakeholders like the NNPC, Kyari spoke of the need to ensure that the right and competent investors are found, that will assume the ownership of the assets and be in a position add value to the industry.

He said: “We have engaged all our partners to ensure that while they have the right of divestments, that there should be no situation where this will become a waterloo of our industry.

“Therefore, NNPC will ensure that Nigeria’s strategic national interest is safeguarded by developing a comprehensive Divestment Policy that will provide clear guidelines and criteria for the divestment of partners’ interest.

“The Corporation would make clear distinctions between Divestment of Shares and Operatorship Agreements under various Joint Operating Agreements.”

According to him, the NNPC will also leverage its rights of pre-emption as well as evaluating the operational competence and track records of new partners.

He said attention would be paid to abandonment and relinquishment costs, severance to affected members of staff as well as third party contract liabilities.

He said the divestment was being driven by global energy challenges, making the IOCs to diversify their portfolios to low-carbon investments.

Tags: NNPCShell
ShareTweetSend
Previous Post

MDAs Barred From Allocating Vehicles To Board Members

Next Post

We Won’t Convert Forex In Dom Accounts Into Naira – CBN

Related Posts

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

June 10, 2025
Kenya: Man Arrested Over Social Media Post Dies In Custody

Kenya: Autopsy Result Shows Blogger Was Hit, Tortured To Death

June 10, 2025

Organisers Postpone U20 WAFU Tournament

Nigeria’s Rivers Hoopers Crash Out Of Africa Basketball League

‘Africa Corps’ Takes Over From Wagner As Russia Keeps Grip On Sahel Region

After His Ordeal In Nigeria, Gambaryan Has Quit His Role At Binance

Next Post
Why Nigeria's Central Bank Raised Interest Rate To 15.5%

We Won't Convert Forex In Dom Accounts Into Naira - CBN

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

June 10, 2025
Kenya: Man Arrested Over Social Media Post Dies In Custody

Kenya: Autopsy Result Shows Blogger Was Hit, Tortured To Death

June 10, 2025
Organisers Postpone U20 WAFU Tournament

Organisers Postpone U20 WAFU Tournament

June 10, 2025
Nigeria’s Rivers Hoopers Crash Out Of Africa Basketball League

Nigeria’s Rivers Hoopers Crash Out Of Africa Basketball League

June 10, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

June 10, 2025

Kenya: Autopsy Result Shows Blogger Was Hit, Tortured To Death

June 10, 2025

Organisers Postpone U20 WAFU Tournament

June 10, 2025

Nigeria’s Rivers Hoopers Crash Out Of Africa Basketball League

June 10, 2025

‘Africa Corps’ Takes Over From Wagner As Russia Keeps Grip On Sahel Region

June 10, 2025

After His Ordeal In Nigeria, Gambaryan Has Quit His Role At Binance

June 10, 2025

South Sudan Is Taking Significant Steps To Preserve Its Cultural Heritage

June 10, 2025

Nigeria: Former First Lady Says Husband Never Stole Funds Recovered In Famous “Abacha Loot”

June 9, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

AfDB Set For A New President, As Ould Tah Gains Continental Endorsement

How Dangote Is Turning Trump’s Trade War Into Africa’s Opportunity

Nigeria @ 64: Meet Young Luminaries Leading Social Transformation

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • Privacy Policy

© 2024 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact us

© 2024 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In