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Nigeria’s Crude Oil Production Rigs Drop By 37.5%

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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.”

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Fubara Summons Support To Sustain Wike’s Legacy

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Peoples Democratic Party (PDP) guber candidate, Hon Siminialayi Fubara, has sued for support towards sustaining Governor Nyesom Wike’s legacy in Rivers State.
Fubara made the assertion during his acceptance speech after the party’s primaries in which he emerged landslide winner at Obi Wali Conference Centre in Port Harcourt, last Wednesday.
The PDP guber flagbearer said his emergence was divine, hence the need for the party to give total support for victory in next year’s elections.
“We will work together to sustain the good things Governor Nyesom Wike has done”, Fubara declared.
Commending the sportsmanship displayed by his fellow aspirants, Fubara praised their zeal but reminded them that, “this is not victory for Fubara; but victory for the party and moving the state forward.”
The PDP flagbearer urged the aspirants to work with him to ensure the party’s victory next year.
On his part, the Governor Nyesom Wike said the victory of Fubara was the decision of the party members who voted, “this is how Almighty God has willed it.”
In his speech, the state Governor, Chief Nyesom Wike thanked the aspirants in the primaries for abiding by the peoples’ decision, reminding them that, “loyalty is not easy but with what we have achieved, it’s difficult for the PDP to lose election in this state.”
The governor pleaded with all members to join forces to win the elections now that a candidate has emerged.
In the coming weeks, the governor hinted that a committee would be constituted towards uniting and mobilising for victory in the 2023 elections.

By: Kevin Nengia

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NYCN Hails Fubara’s Choice As Rivers PDP Guber Candidate

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The leadership of the National Youth Council of Nigeria (NYCN) has hailed the emergence of Hon Siminialaye Joseph Fubara as the candidate of the Peoples Democratic Party (PDP) in the governorship election in Rivers State.
In a statement in Port Harcourt, Chairman, NYCN, Chijioke Ihunwo congratulated Sim Fubara on his emergence as the candidate of PDP in Rivers State.
The statement read, “His Youthfulness, AmbIhunwo Chijioke, the chairman of National Youth Council of Nigeria, Rivers State Chapter and South-South zone, has congratulated, Mr. Sim Fubara, on his victory as the People’s Democratic Party (PDP) Governorship candidate in Rivers State, for the forthcoming Governorship election.
“The youth leader of Rivers State stated that the victory of Mr. Sim Fubara is a significant indication that the delegates of People’s Democratic Party appreciate his efforts in the party and trust that he has the capacity to unite and continue in the awesome works of the Governor of Rivers State, Chief Nyesom Wike.”
According to the youth chairman, “Mr. Sim Fubara’s victory is a resounding vote of confidence in his ability and leadership skills, which he has demonstrated while serving as the Accountant General of Rivers State, and also signifies that the People’s Democratic Party are committed to a democratic process.”
The number one youth leader, however, noted that “other aspirants and leaders of the party should unite and rally round Mr. Sim Fubara in the task of winning the Governorship election come 2023.
“Additionally, the chairman commended the leader of the party, the Governor of Rivers State, Chief Nyesom Wike, for giving all aspirants a level playing ground and other leaders of the party for their efforts in making the primary election a peaceful one.
“The apex youth leader assured Mr. Sim Fubara that Rivers State youths, under his leadership will give him the needed support for him to emerge as the Executive Governor of the state”, the statement signed on his behalf by his Senior Special Assistant to the Chairman on (Media & Publicity), Amadi Eze, last Wednesday, indicated.

By: Nelson Chukwudi

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2023: Obuah Assures Fubara, PDP Of Total Support

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The former Chairman, Peoples Democratic Party (PDP) in Rivers State, Bro Felix Obuah, has congratulated the winner of the party’s governorship primary in the state, Hon Siminialaye Joseph Fubara for his emergence, describing his victory as the only clear choice of PDP in the state.
Obuah, who gave the assurance in a statement he personally signed, yesterday, in Port Harcourt, also expressed his readiness to do all within his powers to ensure the emergence of Governor NyesomWike as the PDP Presidential flagbearer for the 2023 elections.
He said, “May I also use this singular opportunity to congratulate our party governorship flagbearer, my brother and friend, Hon. Siminialaye Fubara on your historic election. I wish you all the best and pledge my full support to ensure that our party again makes history by winning the governorship election in the state for three consecutive terms.
“As we celebrate the peaceful and successful governorship primary in Rivers State, we pray the good Lord also grant our mentor, leader, courageous and pragmatic Governor, Chief NyesomWike victory at the presidential primary.
“Once again, I pray that the good Lord will grant us the grace to forge on together as one united indivisible team and help us actualise our individual and collective aspirations under the leadership of our great party, PDP, irrespective of who occupies the driver’s seat”.
The statement read in full, “For some months now, we have witnessed a tense political atmosphere as our country, Nigeria plans to go through another transition in our democratic experiment which is hoped to come to a head with the 2023 general election.
“Consequently, there have been clamours among individuals and groups for certain persons including my humble self to come out as a prospective governorship aspirant in the state under the canopy of our great Peoples Democratic Party (PDP); somebody who has the capacity to sustain the great works and quality leadership of our brave and visionary Governor, Chief NyesomWike.
“The newspapers, the electronic and social media were all awash with such calls from all the nooks and crannies of the state, beckoning on me to just declare my interest.
“After some deep thought and wide consultations, I wholeheartedly accepted to run for the office of governor of Rivers State on the platform of PDP and also went ahead to obtain the nomination and interest forms in line with our party’s guidelines.
“This singular expression of interest gladdened the hearts of many of you, my ardent supporters within and outside the state.
“Even without my consent, many of you went on to campaign for me through the various sections of the mass media and other fora just for my sake.
“Sadly, that hope, that faith and joy may appear to have been dashed. This is the reason for this special message of hope and appreciation to all of you, my dearest friends, my supporters and my people.
“Let me first assure you that no hope is lost. The choice of who succeeds our dear governor is an exclusive party affair. This is what party loyalty is all about. It is not a personal affair.
“On Wednesday, May 25, 2022, the leadership of the Peoples Democratic Party (PDP), Rivers State Chapter has spoken and a governorship candidate has emerged.
“As a faithful, loyal and committed party man, and the immediate state chairman of the party under whose watch by the grace of God, the party won the governorship election in the state back to back in 2015 and 2019, respectively, I must abide by the decisions of the party at all times even when the decisions are at variance with my personal convictions.
“Accordingly, I decided to withdraw and not contest the governorship primary election in the interest of the party.
“I hereby submit and surrender to the decision of the party. Election is not, and should not be a do-or-die-affair. Moreso, power comes from God. I cannot be a party to anything that may obstruct the course of victory for our party both at the state and national levels, or cause disaffection among our party leadership and members.
“I, therefore, enjoin my faithful supporters across the state not to be dismayed or lose hope for where there is a will, there must be a way.
“I sincerely appeal to you to take every development about the governorship primary in the state in good faith. A renowned writer once said, ‘When hope is lost, when faith dies, the man is dead’.
“As long as we remain alive and trust in God, surely, there are better days ahead.
“I am a peacemaker and according to Matthew 5:9, ‘Blessed are the peacemakers for they shall be called the sons of God’.
“I, once again, call for peace in the PDP and amongst my teeming supporters. United we stand, divided we fall. I thank you all for all your support my social media friends, journalists, Northern groups, Indigenes without Borders, youth groups, churches, Christian organizations, my own people of Omoku, Orashi region, all members of the PDP family across the state, my supporters outside the state, Team Felix Obuah in the 23 LGAs, Go-Round TV, Bro Felix Obuah (BFO) groups, Goround 23, Youth Earnestly Ask For Obuah, ONELGA Political Forum, OtuOzimini Age Grade of Ogba Kingdom, Ogba/Egbema/Ndoni Local Government Area, Rivers State, and many others.
“I am extremely grateful to the Oba of Ogbaland and Council of Chiefs, my stewards/cooks, drivers, my lovely wife and children for their understanding.
“I am also extending my appreciation to all those who signed my nomination form, management and staff of National Network newspaper, Goround Revolution Group, Rivers Women, Rivers Peoples Democratic Party (PDP), women and youths, my personal aides, my Special Adviser on Media and Publicity and others too numerous to mention.
“I also thank you for complying with my appeal to all my supporters via a press statement on Tuesday, May 24, 2022 ahead of the Governorship primary scheduled for Wednesday, May 25, 2022.
“Following an insight, I was compelled to sue for calm amongst my numerous supporters across the state.
“That press statement, which was widely circulated, published on the electronic and print media as well as the social media was timely as it doused tension and pacified those who were already agitated.
“I also did mention in the statement that the party is supreme in all matters and I would stand by the decision of the party”, Obuah said.

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