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    Twitter sues Elon Musk For Refusing To Honor Their $44 Billion Agreement

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    BBNaija: Hermes emerges HOH for week 2 as Chichi, and Dotun become the tail of the house

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    Rafiatu Lawal wins 2nd gold medal for Nigeria at Commonwealth Games

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    Another twist for BBNaija, Ebuka introduces two fake housemates

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    Phyno anticipates a new song featuring Tekno, see the release date

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    Doctor arrested for raping a pregnant woman during childbirth

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    NAFDAC Bans Registration Of Alcoholic Drinks In Sachets, Pet Bottles

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NNPC Urges SPE Members To Bring Solutions To Fight Oil Industry Challenge

Efecha Gold by Efecha Gold
March 19, 2020
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NNPC Urges SPE Members To Bring Solutions To Fight Oil Industry Challenge
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The Nigerian National Petroleum Corporation (NNPC) has urged professionals in the Nigerian petroleum sector to come up with solutions to tackle current challenges facing the industry.

The group managing director of NNPC, Mele Kyari, disclosed this on Wednesday while playing host to the Executive members of the Society of Petroleum Engineers (SPE), Nigerian Council, in Abuja on Tuesday.

The NNPC Boss listed over-supply and the outbreak of the Covid-19 – which has led to a considerable fall in the price of crude oil – as the two major challenges facing the oil and gas industry today.

“The combination of these two events means that there would be a lull in activities in the oil industry, and if forecasts are right, we may witness very low oil prices throughout the year and that will have a collateral effect on the economy”, the GMD said in a statement on Wednesday.

He, therefore, urged professionals to come up with a blueprint on how to get things done economically in order to minimize the negative impact of the current situation on the industry.

The GMD said NNPC has repositioned its Research and Development business into an innovation centre that can provide the needed solution and services for the technological development in the petroleum industry.

On his part, President of the SPE, Joe Uwakwe, said the business of his society was to seek technical solutions to industry problems, adding that the present challenges require the development of technology to produce crude oil in a cost-efficient manner.

He assured that professionals in the industry would do what is necessary to overcome the present challenges.

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Tags: Coronavirus (COVlD-19)Coronavirus disease updatesCoronavirus news onlineCoronavirus outbreakglobal spread of Coronavirus also known as COVID-19Latest news on NNPCLatest Nigeria newsmele KyariNigeria news onlineNigeria News updateNigeria News update 2020Nigeria news updatesNigerian National Petroleum Corporation (NNPC)Nigerian petroleum sectorNNPC GROUPNNPC news onlineNNPC news updatePrice of crude oil in NigeriaSociety of Petroleum Engineers (SPE)the Group Managing Director of Nigerian National Petroleum Corporation (NNPC)
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