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NNPC Set To Grow Crude Reserves To 40bn Barrels

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The Nigerian National Petroleum Corporation (NNPC) has assured of its resolve to grow the nation’s hydrocarbon reserves to 40billion barrels through reinvigorated exploratory activities in the inland frontier basins across the country.
The Group Managing Director of the corporation, Mele Kyari, gave the assurance, yesterday, while delivering a goodwill message at the opening ceremony of the 38th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) where he was a special guest.
He said the theme of this year’s conference: “Accelerating Growth in Nigeria’s Hydrocarbon Reserves: Emerging Concepts, Challenges and Opportunities”, fits squarely into NNPC’s key aspiration, which is to grow the nation’s hydrocarbon reserves, reduce unit operating cost of crude oil production to $10 per barrel and improve efficiency across its businesses.
“It is my pleasure to appreciate the good work and resilience of our in-house professionals in the ongoing inland basins exploration activities that culminated in the recent discovery of hydrocarbons in Benue Trough. NNPC is indeed proud that it is NAPE members that are spearheading this effort,” Kyari stated.
According to him, the NNPC has made significant progress in improving operational efficiency through the adoption of technology and deliberate effort to curtail soaring cost of operations across strategic assets.
“It is instructive to understand that the current market reality cannot support inefficiency and escalated costs of operations. The era of $30/bbl oil no longer exists.
“In today’s Covid-19 defined market, sustaining operations and making progress means that all stakeholders must recognize the need to improve efficiency, reduce costs, eliminate wastages, entrench accountability, act with transparency and embrace technology and innovation to drive performance and value realization across strategic investment portfolios,” he posited.
The NNPC helmsman added that in the face of the energy transition, the corporation is focused on developing gas infrastructure and deepening domestic gas utilization, stressing that gas is the energy of the future.
The GMD expressed optimism that the Petroleum Industry Bill (PIB) would be passed next year, noting that the fiscal environment proposed would attract more investment into the oil and gas industry.
He assured NAPE and all other industry operators of sustained collaboration from NNPC, saying that the strategy of synergy was required in order to drive down operating cost and survive the emerging challenges in the industry.
A statement by the Group General Manager, Group Public Affairs Division of NNPC, Dr Kennie Obateru, quoted Kyari to have revealed that crude oil has already been discovered in the Benue Trough in commercial quantity, with Nigerian geologists spearheading the efforts.
He noted that the strategy is to aggressively explore for more oil in the frontier basins in order to grow the nation’s reserve base, in line with the Federal Government’s aspiration to hit the 40billion barrels reserve target.

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FG Sets Up To Recover Illegally Refined Crude Oil

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In a bid to block revenue leakages, the Federal Government, yesterday, inaugurated an Inter-Ministerial Committee to tackle illegal refining of crude oil in the Niger Delta region of the country.
Members of the committee, who took their oath at the office of the Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, SAN, were drawn from the Ministry of Defence, the Nigerian Army, the Navy, Defence Headquarters, the Nigerian Security and Civil Defence Corps (NSCDC), the Nigerian National Petroleum Corporation (NNPC), as well as from the Federal Ministry of Justice, the Ministry of Environment, the Department of Petroleum Resources (DPR), and the National Oil Spill Detection and Response Agency (NOSDRA).
The Solicitor-General of the Federation (SGF), and Permanent Secretary of the Federal Ministry of Justice, Mr Umar Mohammed, who represented the AGF at the event, said the major mandate of the committee, was “the recovery of illegally refined petroleum products (crude oil) in the dug-up pits found around the creeks of the Niger Delta”.
According to the SGF, “In line with the policy of the current administration on security and economy, as well as the preservation of the environment from negative hazards.
“The office of the Honourable Attorney-General of the Federation and Minister of Justice, in collaboration with all stakeholders, have put in place a mechanism for effective and efficient management of illegally refined products recovered from dug-up pits found around the creeks of the Niger Delta.
“This mechanism was agreed by the relevant stakeholders and submitted to the Attorney-General of the Federation, who considered and approved the establishment of the Inter-Ministerial Committee for the purpose of implementing the Mechanism known as Standard Operating Procedure (SOP) For the Recovery of Illegally Refined Petroleum Products (Crude Oil) in the Dug-Up Pit found around the creeks of the Niger Delta”.
The SGF said the Federal Ministry of Justice would coordinate the process and the Secretariat of the Inter-Ministerial Committee.
“The responsibility of the Inter-Ministerial Committee is to detect, report, evacuate, assess and ensure transparent disposal of the product with due consideration to the environment.
“The Inter-Ministerial Committee shall be guided by the SOP, developed for the project.
“The content of the SOP is drawn from the provision of the Asset Tracing, Recovery and Management Regulations 2019.
“It is my hope that the proceeds from this exercise will be a source of additional revenue for the country”, the SGF added.

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FRSC Threatens Sanction Against Fleet Operators Over Speed Limit

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The Federal Road Safety Corps (FRSC) says it will sanction any fleet operator found sabotaging the implementation of the Speed Limit Device.
Corps Marshal Boboye Oyeyemi said this during the 2021 annual safety managers retreat yesterday in Abuja.
The retreat aimed at sensitising safety managers on the implementation of the Road Transport Safety Standardisation Scheme to attain best practices in fleet operations.
The theme of the retreat is: “Assessment of Speed Limit Device Implementation in Nigeria: Prospects and Challenges”.
Oyeyemi, represented by Deputy Corps Marshal, Motor Vehicle operations, Mr Hyginus Foumsuk, said that the corps would also sanction Speed Limit Device vendors identified for complicity.
The corps marshal expressed concern on the spate of road accidents and needless loss of lives, especially involving fleet operators.
“These, according to many experts investigations, could have been avoided if the concerned safety managers had been responsive in their duties,” he said.
Oyeyemi said that recent findings by the corps have also revealed a low level of compliance on the installation of Speed Limit Device and associated sharp practices among some fleet operators.
He noted that these practices included tampering with Speed Limit Device and connivance with vendors to deceive enforcement operatives.
This, he said, was with compliance certificates without actual installation of the device, calibration above the approved speed limits and others.
According to him, these shall no longer be tolerated as the corps will not hesitate to sanction violators henceforth.
Oyeyemi urged relevant stakeholders to address the decline on the proper vehicle maintenance as well as implementation of the passenger manifest by fleet operators and the drivers’ recruitment policy.
“We all know the essence of the passenger manifest and the significance of its proper implementation. You are therefore urged to take these issues seriously in the interest of safety.
“Passenger manifest is considered pivotal, thus its enforcement should continue along other traffic offences to compel the needed compliance. It is therefore pertinent that strict adherence to the existing policies be sustained,” he said.
“There is need for fleet operators to introduce improved practices to ensure the safety and comfort of their passengers in compliance with traffic regulations.
The Director-General, Federal Competition and Consumer Protection Commission, Mr Babatunde Irukera, commended the efforts of the corps on road safety.
Irukera noted that injury and fatality on the road were caused by speed, describing speed as a catalyst, aggravator and mitigator.
He urged motorists to take cognisance look into installing Speed Limit Device to avoid road traffic crashes and save lives and property.
He, however, assured FRSC of the commission’s support to punish violators, saying that excessive speed attracts a penalty.

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Sokoto Assembly Approves 2021 Virement Request Of N155m

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The  Sokoto State House of Assembly yesterday approved Governor Aminu Tambuwal’s  request of N155 million virement warrant on some capital projects  in 2021 approved budget.
This approval  followed the consideration of a letter by the state governor presented at the plenary by the Speaker, Alhaji Aminu Achida.
Alhaji Bello Ambarura, the All Progressives Congress (APC) leader in  the assembly, had  moved a motion asking  the lawmakers to consider the request at its plenary session.
Ambarura said that the request was necessitated by the present administration’s commitment to addressing  a number of developmental projects.

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