President Bola Tinubu has appointed Bashir Bayo Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), in a major restructuring of the oil company’s management and board early Wednesday morning.
Bayo Ojulari, a seasoned engineer with a career spanning decades has stepped into a new role as chief executive officer of Nigerian National Petroleum Company (NNPC).
Ojulari took over from Mele Kyari, who had been the company’s CEO since July 2019. This is the longest anyone has spent in the cushiest office in the Nigerian oil industry since the country’s return to democracy in 1999.
With over 34 years of experience in the global oil and gas industry, Ojulari is a seasoned business leader whose expertise spans across the management of petroleum asset acquisition & divestments, exploration, field development, production management, strategic planning, economics, investment evaluation and commercial negotiations
His appointment is pivotal as NNPC seeks to maximise oil production by achieving more than 2 million barrels daily while maximizing value for Nigeria’s economy.
Career
Bashir Bayo Ojulari hails from Kwara State and is an alumnus of Ahmadu Bello University, Zaria, where he obtained a degree in Mechanical Engineering.
Ojulari started his career at Elf Aquitaine, where he made history as the first Nigerian process engineer in the company. He later moved to Shell Petroleum Development Company of Nigeria Ltd (SPDC) in 1991, beginning as an Associate Production Technologist. He worked at Shell, where he spent over 24 years in various leadership roles across Nigeria, Europe, and the Middle East.
Over the years, he worked across Nigeria, Europe, and the Middle East, holding strategic roles in petroleum process and production engineering, strategic planning and field development, and asset management and corporate leadership.
Shell’s era
Ojulari’s expertise and leadership propelled him to the top ranks of Shell Nigeria Exploration and Production Company (SNEPCO), where he was appointed Managing Director in 2015. (2015 to 2021)
In this role, he oversaw deep-water assets with a production capacity of 320,000 barrels per day and an annual operating cost of $1 billion. Under his leadership, SNEPCo achieved remarkable milestones, including a 20 percent increase in production, a 30 percent reduction in operational costs, and a 40 percent reduction in capital project costs.
His efforts earned the Bonga Asset the prestigious “Asset of the Year” award in 2016.
Before his appointment as NNPCL GCEO, Ojulari served as Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company, a firm at the forefront of energy investments and acquisitions in Africa.
Notably, under his leadership, Renaissance spearheaded a $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC)—one of the most significant transactions in Nigeria’s oil and gas sector.
Ojulari’s ability to negotiate complex commercial agreements was also instrumental in securing new production-sharing contracts and dispute resolution agreements for Oil Mining Lease OML-118, underpinning growth projects worth $6–8 billion.
A vision for NNPC’s Future
Ojulari’s appointment comes when NNPC faces significant challenges, including pipeline vandalism, oil theft, and the need to diversify Nigeria’s energy portfolio. However, his track record of delivering results in complex environments positions him as the ideal leader to steer NNPC through these challenges.
A leader with global perspective
Ojulari’s career has taken him across continents, giving him a unique global perspective on the energy industry.
From his early days as an Associate Production Technologist in Nigeria to his roles as Sub-Saharan Africa Regional Planner at Shell’s headquarters in the Netherlands and Asset Leader in Oman, Ojulari has consistently demonstrated his ability to lead diverse teams and deliver results in challenging environments.
In his most recent role as Board Chairman of BAT Advisory & Energy Company, Ojulari provided executive-level business and technical advisory services, including leading a major company acquisition worth over $2 billion.
His work with companies like ND Western Limited, Trewan Energy Limited, and Renaissance Africa Energy Company has further solidified his reputation as a strategic thinker and problem solver.
Professional Achievements and Industry Influence:
Ojulari is widely respected in the energy industry and has played active roles in professional organisations, including chairman and Board of Trustees Member of the Society of Petroleum Engineers (SPE Nigeria Council) and Fellow of the Nigerian Society of Engineers (NSE).
His contributions to the development of Nigeria’s oil and gas industry and his experience in energy asset management are expected to shape his leadership at NNPCL in the days to come.