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President Buhari meets with NNPC GMD, Mela Kyari, as oil price rises

Valentine Chinyem

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President Muhammadu Buhari on Wednesday met behind closed doors with the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mela Kyari, at the Presidential Villa, Abuja.

The News Agency of Nigeria (NAN) reports that the agenda of the meeting was unknown as at the time of filing this report.

NAN reports that the meeting came amidst the escalating tension between the United States and Iran following the killing of an Iranian commander last week and the subsequent retaliatory attacks on military bases housing American troops in Iraq.

NAN also reports that the president, who equally serves as Minister of Petroleum Resources, would also be meeting with the Minister of State, Petroleum Resources, Mr Timipre Sylva, later on Wednesday.

Brent crude, the global benchmark, gained 2.4% to reach $70.24 per barrel on Monday, the first time prices have hit that amount in more than seven months.

(NAN)