Alpha Group Hosts Delegation From Nigerian National Petroleum Corporation
DUBAI, United Arab Emirates, Nov. 25, 2015 (GLOBE NEWSWIRE) — Alpha Group of Companies Chairman/CEO Mr. Sheikh Mohamed Bayorh and senior executives from leading prominent companies in UAE welcomed the Nigerian Minister of State Petroleum Resources, Honorable Dr. Emmanuel Kachikwu, and senior executives from the Nigerian National Petroleum Company (NNPC) this week at the Burj Al Arab. The Honorable Dr. Emmanuel Kachikwu, Minister of State Petroleum Resources of Nigeria and senior NNPC officials met with a diverse group of government officials and leading energy companies to discuss potential investment opportunities in Nigeria. Delegation from UAE included HE Suhail Al Mazrouei, Minister of Energy and Chairman of IPIC; senior executives from ENOC and Al Ghurair Group. In addition, HE Dr. Kachikwu met with other international global energy companies including China National Petroleum Corporation (CNPC) and DSSI.
“We were extremely honored to organize and host His Excellency Dr. Kachikwu’s inaugural trip to UAE as the Minister of State Petroleum Resources after being sworn-in earlier this month to meet with our distinguished investors and partners in the region. We commend him greatly for his keen vision and leadership in transforming the oil and gas sector in Nigeria and increasing international investor’s confidence in exploring opportunities in working with the Nigerian National Petroleum Corporation,” said Sheikh Mohamed Bayorh.
“We believe there are tremendous opportunities in the Nigerian oil and gas sector and look forward to doing business with the new administration,” said Mr. Wang Baoji- President CNPC Middle East and Africa.
Also the delegation from NNPC had an opportunity to hear alternative financing proposals for their expansion plans by various leading finance houses in UAE [including ME-A and Euro American]. “We have a plan called ‘20 Fixes’ to increase NNPC’s profitability and one of them is to increase our refining capacity to reduce foreign imports,” said HE Dr. Kachikwu in response to a question about Nigerian oil sector priorities. “We believe we can share our refinery operating experience with NNPC; we were able to increase both yield and capacity in a very short period with our Libyan refinery joint venture operation with Lybia’s national oil company,” added Sultan Al Ghurair, CEO for Al Ghurair Energy.
“We expect this visit to promote the bilateral partnership between the Federal Republic of Nigeria and the UAE’s National oil companies,” said Mallam Bello B. Rabiu, Group General Manager, Corporate Planning & Strategy NNPC, after meetings with the Ministry of Energy staff.
The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation which was established on April 1, 1977. In addition to its exploration activities, the Corporation was given powers and operational interests in the full oil and gas value chain including refining, petrochemicals and products transportation as well as marketing. NNPC has over 10 subsidiaries operating in Nigeria to look after various interests in the energy value chain.
About Alpha Group of Companies
Alpha Group of Companies is a leading diversified holding conglomerate led by its flagship company Alpha Capital International- a boutique investment firm headquartered in UAE. Its various subsidiaries which include Alpha Energy & Investments, Alpha Global FZ LLC, & Alpha Grip Development & Management co., are active in mining, renewable energy, consulting, exploration/production, and freezone development, in which Alpha GRIP Development & Management Co. is currently developing a $20b Gas Industrial City in Ogidigben, Delta State- Nigeria.