• CERAWeek
  • March 18 - 22, 2024
  • About

Bala Wunti


Chief Upstream Investment Officer

Bala Wunti is a thoroughbred oil and gas industry professional with 30 years’ experience covering Technical, Commercial, Managerial and Executive roles across the oil and gas value chain. He is a graduate of Chemistry from Ahmadu Bello University and has a Master’s degree in Business Administration. Since joining NNPC, Mr. Wunti has held a several key positions in NNPC. He is currently the Group Managing Director, National Petroleum Investment Management Services (NAPIMS) and previously served as Managing Director, Petroleum Products Marketing Company (PPMC), Group General Manager Corporate Planning & Strategy, Senior Technical Adviser to five different Group Managing Directors of NNPC amongst others. Bala has led some critical National Assignments including the review and amendment of the 1993 Deep Offshore Act to improve Government Take from Production Sharing Contracts, renegotiation of Production Sharing Contracts after over 2 decades of stalemate, and commercial negotiations for ~30 different LNG related agreements. He has championed several initiatives such as the “Nigasification Strategy” for powering the Nigerian economy with natural gas and condensate, the “P-PIE Initiative” for eliminating the importation of petroleum products, and more recently optimization of upstream operating costs to sub $10/bbl. Mr. Wunti also has a proven track record in energy diplomacy and international coordination as Nigeria’s National Representative in the Gas Exporting Countries Forum (GECF) and Technical Member of the Organization of Petroleum Exporting Countries (OPEC) Economic Board.

Sessions With Bala Wunti

Tuesday, 7 March

  • 07:15am - 08:20am (CST) / 07/mar/2023 01:15 pm - 07/mar/2023 02:20 pm

    National Oil Companies in the Changing World

    Upstream Oil & Gas
    The absence of decarbonization efforts by National Oil Companies (NOCs), which represent ~50% of the world’s oil and gas production, will stall advancement toward global climate goals. Climate advocates must increasingly consider the wide array of developmental challenges the energy transition poses to producer countries and the critical role NOCs play in achieving progress. Meanwhile, NOCs and their respective governments must grapple with how markets are evolving toward a more diversified energy mix. Action is required now to secure the NOCs’ long-term strategic positioning and energy security. What are the strategies for future success among this select subset of companies?