Pathways for Transforming National Oil Companies Amid the Energy Transition

Globally, increased pressure to transition from fossil fuels to low-carbon economies aligned with climate commitments puts fossil fuel-producing economies at risk. This exposes governments and national oil companies (NOCs) to market risks associated with declining fossil fuel demand, reputational risks, technological shifts, and other transition risks if they are inadequately managed. Given the dependence of economies such as Nigeria on its fossil fuels for revenue and energy, the transformation of its NOC, the Nigerian National Petroleum Corporation (NNPC), at a pace that delivers a just and sustainable economic and energy future is crucial.

At this event, experts will provide clear, forward-looking strategies for transformation that outline proactive steps NNPC and the Nigerian government can adopt in response to emerging transition pressures and risks as they materialize. They will share pathways and recommendations for a just transition gleaned from research on successful NOC transformations and provide opportunities for cross-learning between NOCs that have adopted successful transformative strategies and other NOCs embarking on a similar journey of transformation.

Key stakeholders 

• Early-stage NOC just transition reformers such as NNPC and GNPC

• Civil society organizations

• Private sector 

• Donor organizations

Speakers

• Tengi George-Ikoli, Country Manager, Nigeria, NRGI

• Giovanni Tagliani, UCL Institute for Innovation and Public Purpose (UCL IIPP)

• Andrea Furnaro, Senior Policy Analyst, NRGI

• Ikechukwu Aturuobi, Manager, Sustainability Partnerships and Alliances, NNPC

• Martha Lucía Barón, Strategy Leader at the Executive Vice Presidency of Energy for Transition, Ecopetrol

• Vincent Ogbu, Lead, Sustainability Strategy Policies and Standards, NNPC