Former ADNOC Vice President joins NNPCL

officer of NNPCL, in a statemen t, said Mr Cordier joined the company as head of its oil trading arm, NNPC Trading Ltd.

The statement noted that the appointment is in furtherance of the ongoing repositioning drive in the company towards improved growth, better performance, and service delivery.

It added that Mr Cordier, a renowned international oil trader and a French/Swiss national, holds a Master’s degree in Corporate Finance with 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 reorganizing 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 said.

At Abu Dhabi National Oil Company (ADNOC) in Abu

Dhabi, UAE, Mr Cordier served as Vice President of Middle Distillates, Senior Vice President of Risk Management, Senior Team Member in charge of building the trading activity for ADNOC and the launch of ADNOC Global Trading (AGT) in December 2020.

Mr Cordier has since assumed duty, the NNPCL said.

Average retail price of petrol in Nigeria up 54%

From Abubakar Yunusa ABUJA

The average retail price paid by consumers for petrol rose by 54.76 per cent in February, the National Bureau of Statistics (NBS) has said.

The bureau said this in its “Premium Motor Spirit (Petrol) Price Watch” for February 2023 released on Monday.

The NBS said the average retail price paid by consumers for petrol in February 2023 was N263.76, indicating a 54.76 per cent increase when compared to the value recorded in February 2022 (N170.42).

The bureau also said that comparing the average price with the previous month (.i.e. January 2023), the average retail price increased by 2.58 percent from N257.12.

On state profile analysis, the report said Jigawa state had the highest average retail price for petrol at N329.17, followed by Rivers and Ebonyi at N323.33 and N317.14, respectively.

On the other hand, Niger State recorded the lowest average retail price at N198.50, followed by Plateau at N198.71 and Abuja at N200.00.

The NBS said that the highest average retail price was recorded in the South-East at N306.86, while the North-Central had the lowest at N215.01.

In its Automotive Gas Oil (diesel) Price Watch report for February 2023, the NBS said the average retail price of diesel paid by consumers increased by 168.26 per cent on a year-onyear basis. The bureau said the price moved from a lower cost of N311.98 per litre recorded in the corresponding month of last year to a higher cost of N836.91 per litre in February 2023.

On a month-on-month basis, the NBS said an increase of 0.98 per cent was recorded from N828.82 in the preceding month of January to an average