News

Nigeria’s Crude Oil Production Rigs Drop By 37.5%

Published

3 years ago

April 25, 2022

The number of functional crude oil production rigs in Nigeria decreased by 37.5per cent to just 10 operational rigs in March, 2022, the Organisation of Petroleum Exporting Countries (OPEC) has said.
An oil rig, offshore platform, or oil and/or gas production platform is a large structure with facilities to extract, and process petroleum and natural gas that lie in rock formations beneath the seabed.
Nigeria is a strong member of OPEC and has been championing activities of the group for decades, though failing lately in meeting its monthly oil production quota as approved by the organisation.
Data from OPEC’s latest Monthly Oil Market Report for April 2022, last Friday, showed that Nigeria’s operational oil rigs had been on the decline since 2019.
In its world rig count and units, OPEC stated that in 2019 Nigeria had an average of 16 functional rigs, but this dropped to 11 in 2020 and crashed further to an average of seven in 2021.
In fact, the organisation revealed that the country’s rigs dropped to as low as five in the second quarter of 2021, before picking up to 10 in the third quarter of same year, but eventually dropped again to seven in the fourth quarter of last year.
It moved up to eight functional rigs in the first quarter of this year, going by OPEC data, as the organisation’s report further showed that Nigeria’s oil rigs were eight in February, 2022.
The rig count appreciated marginally in March this year to 10.
Hence, the fluctuations in Nigeria’s rig counts indicated that it dropped by from an average of 16 in 2019 to 10 in March, 2022, representing a decrease of 37.5per cent.
Meanwhile, the report showed that aside from Iran which had maintained 117 rigs since 2019, some other oil-producing nations witnessed varying degrees of declines in their rig counts.
The rig counts of Saudi Arabia, Algeria, and the United Arab Emirates, for instance, also dropped from 115, 45 and 62 to 74, 30 and 41, respectively between 2019 and March, 2022, according to OPEC data.
However, countries such as Angola, Venezuela and Libya, for instance, saw a marginal rise in the number of functional oil rigs in their various domains.
Amidst the drop in oil rig count for Nigeria, the country has also suffered massive decline in its crude oil production making it unable to meet its OPEC approved oil production quota since this year.
Operators in Nigeria’s oil and gas sector had also attributed the drop in oil production to oil theft, while the government had raised concerns about the exit of international oil companies from Nigeria due to the global push for net zero carbon emission.
Also an analysis of the OPEC report showed that Nigeria’s oil production had been falling since January this year.
It was observed that while the country produced 1.413million barrels of crude oil daily in January, this dropped to 1.378million barrels per day in February, and plunged further to 1.354million barrels per day in March.
The situation confirmed concerns by both government officials and International Oil Companies operating in Nigeria that crude oil production in the country had been on the decline since 2021.
On March 24, 2022, for instance, the total value of Nigeria’s crude oil stolen between January 2021 and February 2022 was about $3.27billion (representing N1.361trillion at the official exchange rate of N416.25 to the dollar), according figures from the Nigeria Upstream Petroleum Regulatory Commission.
International oil companies and their counterparts in Nigeria also stated recently that the massive oil theft across the country posed a threat to not just their existence, but to the Nigerian economy.
But NNPC’s Group Managing Direction, Mele Kyari, had announced recently that measurable outcomes against the massive crude oil theft in the Niger Delta would be visible in three weeks’ time.
Kyari had said, “As we speak now there is massive disruption to our operations as a result of the activities of vandals and criminals along our pipelines in the Niger Delta area.
“This has brought down our production to levels as low as we have never seen before. Today we are doing less than 1.5million barrels per day simply because some criminals have decided that they should have some infractions on our pipelines.”
Nigeria’s oil production quota by OPEC has revolved around 1.8million barrels per day.
The country has repeatedly missed this target due to oil theft.
“And that clearly is the biggest form of business disruption that we are facing today,” the NNPC boss had stated.
He added, “This kind of engagement, the certifications that we have today around our systems and processes should be able to respond to this. And part of the response is to bring in the best framework possible to contain this situation.
“I’m happy to tell us that enormous work is going on between us and the Federal Government recognised security agencies, our partners, particularly those on the corridors that are impacted, and also the community members.
“And I’m very optimistic that within the next two to three weeks some very measurable outcomes will come so that our businesses will continue. As we speak now, the Nigerian Navy is launching a massive operation to contain oil theft in the Niger Delta.”

News

Kano Gov Congratulates NUJ At 70

Published

3 days ago

March 17, 2025

The Tide

Governor Abba Yusuf of Kano State has congratulated the Nigeria Union of Journalists (NUJ) on its 70th anniversary.
The governor acknowledged the NUJ’s vital role in strengthening democracy and promoting accountability in governance.
This is contained in a statement by the governor’s spokesman, Sunusi Dawakin Tofa in Kano, yesterday.
The governor lauded the NUJ for its unwavering commitment to ethical journalism and nation building.
He commended the union’s leadership, led by Mr Alhassan Yahya Abdullahi, for advancing press freedom and advocating for journalists’ welfare.
“The NUJ has been instrumental in shaping Nigeria’s narrative, promoting democracy and ensuring accountability in governance.
”The Kano state government recognises the critical role of the media in our democracy and will continue to support and collaborate with the NUJ to uphold a free and independent press,” he stated.
Yusuf urged journalists to continue to uphold professionalism, integrity and objectivity.
He reaffirmed his administration’s commitment to fostering a strong partnership with the union, while ensuring that the media remained a pillar of democracy in the state and the country at large.
“Once again, congratulations to the NUJ on this remarkable achievement. May the next 70 years bring even greater successes and accomplishments for the union and its members,” he stated.

News

Monarch Lauds Fubara On Enduring Peace, Installs Three Chiefs In Ngo

Published

3 days ago

March 17, 2025

The Tide

The Village Head of Ngo in Andoni Local Government Area of Rivers State, King Dogood Ngere, has commended the Rivers State Governor, Sir Siminalayi Fubara, for his peaceful disposition and leadership qualities in the State.
King Ngere has also appealed to the governor and the Minister of the Federal Capital Territory, Nyesom Wike, to resolve their differences and work together for the interest of peace and development of the State.
The monarch stressed the need for the two leaders to put Rivers State interest above personal interest and reconcile their differences.
He said Fubara’s decision to implement the Supreme Court judgement shows that he is a man of peace and appealed to the Rivers State House of Assembly led by Rt Martin Amaewhule to work with the Executive to move the State forward.
The traditional ruler stated this shortly after he installed three chiefs at his palace in Ngo Town.
The three chiefs are Chief Daniel Dimkpa Nelson of Ebirien Ngere family, Chief John Biboh John of Ngor Egbesi family, and Awajimotumu Ukot Idawaji as chief of Ida Awaji family.
Addressing the new chiefs after their installation, King Ngere charged them to see themselves as role models for their individual families, stressing that as chiefs, it behoves them to be exemplary in their conducts.
According to the traditional ruler, the new chiefs must not only work for the peace of their families but Ngo community in general.
King Ngere also advised members of the three families to give their chiefs the desired respect while also supporting them to succeed.
He commended Governor Fubara for his numerous developmental projects in Andoni, particularly the ongoing Ngo/Oyorokoto Road, saying that when completed, the road will open up economic opportunities in the area.
Also speaking at the occasion, the Secretary of the Egweoke Council of Chiefs, Chief Awajiokan Mbosowo Ukumor, described the installation ceremony as a big success.
He said the three chiefs fulfilled all the conditions for their installation and are therefore admitted as members of the Ngo Council of Chiefs.
The ceremony was attended by people from various walks of life.

News

NDLEA Seizes Large Consignments Of Skunk, Heroin Across Six States, FCT

Published

3 days ago

March 17, 2025

The Tide

The National Drug Law Enforcement Agency (NDLEA) has seized large consignments of skunk, heroin, and other opioids in raids across Kano, Kwara, Kaduna, Taraba, Abia, Osun, and the Federal Capital Territory (FCT).
NDLEA’s Director, Media and Advocacy, Mr Femi Babafemi, disclosed this in a statement issued to newsmen in Abuja, yesterday.
Babafemi said that in Kano, a total of 727 blocks of compressed skunk weighing 479kg were recovered from a 40-year-old suspect.
According to him, the suspect was arrested by operatives of the NDLEA at the Chalawa area of the state on March 12.
He added that no fewer than 58,300 pills of tramadol were also intercepted along Kabba-Obajana highway, Kogi, in a commercial bus coming from Lagos, enroute Abuja on March 11.
He added that raid operations in Kachia, in Kaduna on March 13, led to the arrest of a 21 year-old suspect, with 4,900 pills of tramadol 225mg seized from him.
Babafemi said that a similar exercise in the Hayin Banki area of Kaduna North Local Government Area (LGA) on March 14, also resulted in the arrest of another 25-year-old suspect.
According to Babafemi, 2,900 tablets of tramadol 225mg was also recovered from him.
“A total of 40,200 tablets of tramadol 225mg were recovered from the duo of Olowoko Faruk and Akeem Ridwan along Ilorin – Jebba expressway, Bode Saadu, Kwara, on Friday, March 14.
“The NDLEA operatives equally seized 21,700 capsules of same opioid from a suspect, along Eiyenkorin expressway, Ilorin on Thursday, March 13.
“Also, in Taraba, NDLEA officers on Friday, March 14, another 30-year-old suspect, at Bente Road, Kurmi LGA, with 15.77kg of skunk,” he stated.
Speaking further, he noted that agency operatives had also on March 13 in Osun, intercepted a commercial bus with registration number, SGB 564 YS coming from Idumota, Lagos Island.
According to him, the NDLEA operatives recovered a total of 48.7kg Ghanaian Loud, Colorado and Canadian Loud, all strains of cannabis.
“Not less than nine suspects have been arrested in connection with the seizure in Osogbo and Ile-Ife during follow up operations.
“A 58-year-old suspect was on March 11, arrested along Gwagwalada expressway, Federal Capital Territory (FCT) Abuja, with 27,800 pills of tramadol 225mg.
“Another 26 year old suspect sold was nabbed same day with various quantities of skunk and cocaine at Wuse zone 3 area of Abuja.
“In Abia, NDLEA operatives had also on March 15, raided the Ntigha community, Isiala-Ngwa North LGA, where a 34-year-old suspect was arrested.
“Operatives recovered from him, 274grams of heroin, 141grams of methamphetamine, 2.931kg of cannabis sativa, four grams of cocaine and N753,015 monetary exhibit,” he said.