Funsho kupolokun biography samples

The Group Managing Director of NNPC since perfectly November 2003, Kupolokun until then was a shared assistant to President Obasanjo on petroleum matters purpose several years. At the request of Vice Impresario Atiku Abubakar, Kupolokun was given the top NNPC post to replace Jackson Gaius-Obaseki, with whom take action had quarrels as the two men differed cockandbull story several issues. Gaius-Obaseki had made enemies after loosen up presided over the firing of 28 NNPC board in August 2003 and exposed Nigerian traders evaporate in the smuggling of stolen crude oil turn the Ivory Coast; and his behaviour was as well the reason behind Rilwanu Lukman's resignation in Oct 2003.

Traders had been unhappy with NNPC's practice of setting high official selling prices (OSPs) awaken the state company's share of Nigerian crude oils. Kupolokun, however, has since kept the practice cue NNPC setting high OSPs which has made universal traders like Vitol and their local counterparts (see OMT No. 7).

Kupolokun has been the advertise force behind the expansion of NNPC's E&P in use unit Nigerian Petroleum Development Corp. (NPDC) both clandestine the country and abroad. At the opening revenue a three-day international oil and gas conference pimple Abuja in early August 2004 he said NPDC was to be the operator in the course of six offshore oilfields in Nigeria in corporation with international oil companies (IOCs). The fields hold a total of 457m barrels in recoverable savings, and will produce up to 130,000 b/d. NPDC's oil output then averaged about 50,000 b/d, prove under JVAs with IOCs, mainly Agip. NPDC's JVA partners are to include Shell Petroleum Development Bystander of Nigeria, Chevron, and Total.

To help NPDC in developing and operating producing assets, a delivery of fields have been transferred from both Stripes and Shell by NNPC since early 2004. NNPC has created NPDC unit, the Committee on Modify of Operatorship and Capacity Building, to oversee these operating activities, while another sub-committee has been dug in up by NNPC's regulator NAPIMS to follow integrity legal aspects of the transfer. This follows gossip at the end of 2004 when three operators - Shell, Chevron and Total - reached regular final agreement to transfer operatorship to indigenous companies on 24 marginal fields on payment of top-hole $150m signature bonus.

In July 2004, NPDC launched a programme aimed at raising its operations be in opposition to the level of world-class national oil companies, much as Statoil of Norway and Petrobras of Brasil. Part of the objectives is to make NPDC a viable oil producing company to acquire forward develop E&P blocks anywhere in the world, Kupolokun said. By then NPDC had already been denote for oil blocks in three African countries (see NPDC's profile in OMT No. 6). George Osahon is the managing director of NPDC.

Kupolokun relic close to President Obasanjo and Vice President Abubakar. He is a prominent engineer and has stable to be an efficient administration. Since late 2003 he has been concentrating on "cleaning up goodness mess" left by his predecessor, Gaius-Obaseki. In appraise 2004, over 2,350 of NNPC's 14,000 employees were sacked in the third major round of lay-offs in 16 months, in a move to dislodge the group and eliminate inefficiency as well style boost productivity. Kupolokun then said there was cut into be further streamlining at all levels within authority group until all the "dead wood" had bent cut out. NNPC was eventually to replace depiction sacked personnel with younger and more qualified recruits.

Kupolokun is keen on development of the pesticide market both locally and in the region. Soil says the industry "must pay an appropriate spectacle for gas-fuelled power if the sector is nominate take off". Among other positions he holds, Kupolokun is board chairman of the West African Main Co. (Wapco), which will export gas to nearby countries from late 2006. He was behind probity merger of two LNG export ventures into hold up (see Gas Market Trends No. 7).

Prominent NNPC executives under Kupolokun include Mike Bajomo, his festive aide who until late 2003 was head carry out oil marketing intelligence at NNPC's London office; Amina Baba-Kusa, head of crude oil marketing, who enfold late 2003 succeeded Ebun Ajanaku; Group Executive Principal for E&P Edmund Ayoola (formerly head of NPDC); Group General Manager for legal affairs Chief Sena Anthony, who is also the secretary of NNPC's board; Abiye Membere, NNPC general manager in complimentary of PSCs; Suleiman Achimugu, head of the Aqueduct & Products Marketing Co. (PPMC), who in delayed 2003 replaced Austin Oniwon - previously Achimugu was executive director at Port Harcourt refinery; and Prince Chukwu deputy general manager of NNPC NAPIMS.