The Defence Headquarters yesterday said crude oil theft had dropped from 60,000 barrels per day (bpd) to 23,000.
The Chief of Training and Operations, Maj.-Gen. Lawrence Ngubane announced this in Bile, Degema Local Government Area of Rivers State during a tour to some operational bases of the Joint Task Force (JTF).
Ngubane, who held a closed-door meeting with Shell Petroleum Development Company (SPDC), said the decline was due to the JTF’s renewed strategy and commitment to the fight against illegal oil bunkering.
“The level of oil theft has come down drastically, SPDC informed me that oil theft has reduced from 60,000 bpd to 23, 000 bpd.
“Our desire is that we should go below that. The Chief of Defence Staff and Service Chiefs are doing everything possible to ensure that oil theft is reduced to the barest minimum in the interest of the country.
“So, my visit is to go round and see the areas of operations within the country and also to see the troops helping us to conduct our operations in the Niger Delta.”
Ngubane said the soldiers were contributing their quota for the progress of the nation’s economy through their commitment in eliminating illegal oil bunkering in the area.
According to him, if Nigerians must get quality social services such as healthcare, electricity, roads and education, soldiers must protect pipelines from vandals and not involve themselves in corruption.
He said any soldier found involved in corrupt practice would be sanctioned in accordance with the Army Code of Conduct.
“Nigerian Army is known and respected globally for its professionalism and as such, would strive to sustain our positive rating,” he said.
Ngubane said more gunboats, kits and other equipment would be provided to intensify the fight against illegal oil bunkering and sundry crimes in the region.
The SPDC had on March 4, claimed that the company was losing about 60,000 barrels of crude oil to criminals daily.
It threatened to shut down its operations in some parts of Rivers and Bayelsa states if efforts were not made by security agencies to combat the illegal activities.
CNG Committee Partners UN Agency On Greener Energy
The Presidential Compressed Natural Gas Initiative (PCNGI) has partnered with the United Nations Sustainable Energy for All for the provision of greener and more sustainable energy in Nigeria.
The Programme Director/Chief Executive, PCNGI, Michael Oluwagbemi, who duclosed this at a workshop in Lagos, Friday, reiterated Nigeria’s unwavering commitment to sustainable strategies which he said would propel the nation toward a greener, more sustainable future.
In a Statement, Oluwagbemi said the workshop marked a significant milestone in the commitment of the nation to join the rest of the world in the enhancement of sustainable energy access.
While noting that the workshop was held as a follow-up to an initial meeting between SEforAll CEO, Ogunbiyi and PCNGi Chairman, Adedeji, held in Abuja, Oluwagbemi said it also showcased the progress and key initiatives contributing to Nigeria’s sustainable development agenda.
“These initiatives, presented with impact and relevance, are pivotal in steering Nigeria towards a more sustainable future, aligning with global goals and impacting the nation’s development landscape”, he said.
“The workshop aimed to identify opportunities for collaboration and outline concrete steps for forging impactful partnerships between SEforALL and FIRS/PCNGi.
“PCNGi’s active participation in the workshop underscores its dedication to fostering collaboration among key stakeholders”, Oluwagbemi said.
According to him, the committee envisions a future where sustainable practices are ingrained in Nigeria’s energy landscape, contributing to economic growth, environmental conservation, and enhanced energy access.
He reaffirmed the commitment to ongoing collaboration for all parties to drive sustainable solutions contributing to Nigeria’s broader development goals.
“As Nigeria’s sustainable development progresses, PCNGI remains a driving force, ensuring that the nation’s green growth goals are met and exceeded”, he stated.
The PCNGI boss revealed that the workshop featured presentations on critical topics including Nigeria Energy Transition Plan, Nigeria E-bus Strategy, Solar Empowerment for Micro, Small and Medium Enterprises and Nigeria Carbon Market Activation Plan.
Tinubu Approves Fresh Marginal Field Bid
In a bid to revive Nigeria’s dormant oil and gas fields, President Bola Ahmed Tinubu has given the green light for a new marginal field bid round, aiming to auction dormant oil and gas fields abandoned by international oil companies (IOCs) for over a decade.
Minister of State for Petroleum (Oil), Heineken Lokpobiri, disclosed this during a visit to Waltersmith Petroman Oil Limited’s modular refinery in Imo State.
Lokpobiri said the decision came on the heels of a strategic meeting between the Nigeria Extractive Industries Transparency Initiative (NEITI), the Oil Producers Trade Section (OPTS), oil firms and miners at the NEITI-Companies Forum.
According to him, the impending bid round follows a previous initiative in 2020, where approximately 57 marginal oilfields were put up for sale, concluding last year.
He, however, noted that challenges such as funding constraints and regulatory complexities hindered many recipients from promptly developing these assets.
Senator Lokpobiri stressed that the forthcoming bidding round, backed by presidential approval, would prioritize marginal fields located near modular refineries adding that this strategic alignment aims to expedite the production process.
Emphasizing the significance of modular refineries in addressing the country’s energy challenges, Senator Lokpobiri highlighted their role while the larger refineries undergo comprehensive rehabilitation.
The move by the Federal Government is anticipated to breathe new life into stagnant oil and gas fields, fostering economic administration’s vitalization in the sector.
We’ve Robust PMS Supply To Last Beyond Yuletide-Kyari
The Nigerian National Petroleum Company Ltd. (NNPCL) says it has made a robust plan for the supply of petroleum products sufficient to last beyond the ember months and the new year festivities.
The NNPCL said the supply of petroleum products, especially the Premium Motor Spirit (PMS), known as petrol, would last beyond the Yuletide and new year festivities.
The Group Chief Executive Officer, NNPCL, Malam Mele Kyari, said this when he led a delegation on a courtesy visit to the President of the Senate, Sen. Godswill Akpabio, last Wednesday in Abuja.
Kyari, in a statement by Olufemi Soneye, Chief Corporate Communication Officer, NNPCL said by the creation of the National Assembly, NNPCL was saddled with the responsibility of guaranteeing Nigeria’s energy security which was critical to national security.
“We have made a robust plan for the forthcoming end of the year festivities and beyond. We do not see any shortages in the petroleum products supply for the period,” the GCEO added.
While lauding the National Assembly for the critical role it played in the enactment of the Petroleum Industry Act (PIA) 2021, Kyari said this legislative endeavour gave birth to a new commercially oriented National Oil Company, governed by the Company and Allied Matters Act (CAMA) principles.
Kyari stated that with the passage of the PIA 2021, NNPCL’s profitability margins had significantly risen, growing from a loss position of N803 billion in 2018 to a profit position of N674 billion in 2021.
According to him, NNPCL is targeting a profit increase of N2 trillion when the 2022 Audited Financial Statements (AFS) are released, and since July, 2023 the Company has started paying dividends to its shareholders.
He also said the NNPCL was involved in the entire value-chain of the oil and gas business and controlled about 30 per cent of the nation’s petroleum downstream retail market.
News5 days ago
Military Recovers 578,900 Litres Of Crude Oil, Destroys 50 Illegal Refining Sites
Nation5 days ago
Senate Wants FG To Immortalise Nigerian Flag’s Designer
Sports2 days ago
Rivers Hoopers Win 2023 Nigeria Basketball League …Clinch BAL Ticket
Opinion2 days ago
Of Dollarised Economy
Nation2 days ago
NOSL Engage Girls To Develop Stem Skills In Nigeria
News5 days ago
Tinubu Approves Akawor’s Appointment As RMAFC Federal Commissioner
Sports5 days ago
No VAR In NPFL For Now – Owumi
News2 days ago
AGF Cautions Politicians Against Blackmailing Judiciary, Judges