The Nigerian National Petroleum Company (NNPC) Limited has named Mr. Jeane-Mare Cordier, a former vice president of the Abu Dhabi National Oil Company (ADNOC) as head of NNPC oil trading arm, the NNPC Trading Ltd.
The move, it was gathered, is to strengthen and firm up the negotiating portfolio of the NNPC to enable it survive in the international market. It is believed that in the years that NNPC was a state agency, the trading arm underperformed woefully.
NNPC Ltd chief spokesman, Mr. Garba Shehu said in a statement that Cordier’s appointment was in furtherance of the ongoing repositioning drive in the company towards improved growth, better performance, and service delivery.
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He explained further that the new appointee, Cordier, a French/Swiss national, is a renowned international oil trader, holds a Masters degree in corporate finance with a distinction from Paris 9 University.
“He comes into the role with a rich background spanning over 30 years in physical oil, oil derivatives, and risk management, with significant experience in reorganising and creating a trading business.
“He spent 24 years with Elf Trading/Total Trading in various positions as trader, trading desk manager in Geneva, and four years as the global trading manager at Addax Energy in Geneva,” the statement added.
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At Abu Dhabi National Oil Company, ADNOC, in Abu Dhabi, UAE, the NNPC said that Cordier served as vice president middle distillates and senior vice president, risk management.
The statement stressed that the new appointee was senior team member in charge of building the trading activity for ADNOC and the launch of ADNOC Global Trading (AGT) in December 2020.
By Ken Okoye