NNPC prepares own staff for oil trading business

Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru

The Nigerian National Petroleum Corporation (NNPC) has charged its staff in the oil trading section to sharpen their skills for the challenges ahead as the corporation seeks to activate its vision of becoming a dominant player in the trading of petroleum products and crude oil in the international market.

The Group Managing Director of NNPC, Dr. Maikanti Baru gave this charge on Wednesday at the NNPC Towers, Abuja while receiving participants billed to depart for onsite customized oil traders training programme organized by the Oxford Princeton, London, for select NNPC Staff.

According to a statement issued by NNPC spokesman, Ndu Ughamadu; Baru said, “Trading on the major international platforms like the London mercantile exchange, the New York NYMEX, and Singapore requires indepth understanding. It also requires total loyalty and commitment to your entity, as in the oil and gas industry, the margins are small so the volume definitely matters. We rely on you to make things happen.”

The NNPC GMD noted that because successful trading required in-depth networking, the trainees must do everything possible to develop and sustain a rich pool of contacts within the trading world.

He recalled that various attempts made by the NNPC Management in the past to have a strong hold on oil trading had not yielded the expected dividend because the Corporation relied on the so-called big trading companies to transfer trading skills to NNPC Staff during routine secondment.

“It is our aspiration that this crop of trainees would eventually realize our dream,” Baru said.

The training programme is designed to equip the participants with crude oil trading fundamentals and develop their capacity to compete in the global trading space. The course is billed to take-off on February 6, 2017.

Speaking on behalf of the trainees, Mallam Inuwa Waya, Managing Director of NNPC Trading assured that the participants were prepared to accept the challenges ahead and maximize the opportunities on offer during the programme and beyond. 

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