TIMIPRE VOWS TO CUT OIL PRODUCTION COST

TIMIPRE VOWS TO CUT OIL PRODUCTION COST

The Minister of State for Petroleum Resources, Timipre Sylva, has vowed to work with the new board members of the Nigerian National Petroleum Corporation (NNPC) to reduce the cost of crude oil production.

Sylva assured the President, Major General Muhammadu Buhari (retd.) that the Federal Ministry of Petroleum Resources would work with the board to deliver on the goals of the oil industry.

According to a statement from the FMPR, the objectives  include reducing the cost of production of crude oil, eradicating vandalism, improving the national crude oil reserve and passage of the Petroleum Industry Bill (PIB).

In his capacity as minister of state for Petroleum Resource, Sylva is the Alternate Chairman of NNPC Board and the membership of the board includes the Group Managing Director of NNPC and Permanent Secretary of the Federal Ministry of Finance.

 

PUNCH