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‘Projected Crude Oil Production Short By 283m Barrels’

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Nigeria’s crude oil production when put side-by-side its expected output of 1.88million barrels per day in 2022, was short by a whopping 283million barrels, amounting to roughly $24.55billion.
This figure was arrived at when an estimated conservative price of $85 per barrel for which the commodity sold in the year under review, is multiplied by the 283million barrels deficit recorded during the period.
A further review indicated that while the 2022 budget projected a 1.88million bpd, that is about 58.28million barrels every month or an estimated 700million barrels for the entire year, only 417million barrels were drilled for the entire year.
This represented about 59.57 per cent output for the year.
But on the upside, although the National Assembly pegged the price benchmark at $57 per barrel, oil sold far more than that in 2022, even exceeding $100/barrel at some point.
The figures were released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) from January to December, last year.
With its inability to drill up to 60per cent of its expected volume in 2022, the country lost roughly 40per cent of its output to oil theft and sabotage as a result of incessant shut-in of planned output for the period.
A review of the NUPRC data covering the whole of last year revealed that Nigeria only managed to drill 43.3million barrels in January, turning out to be the highest output for the year; 35.2million barrels in February; 38.3million barrels in March and 36.5million barrels in April.
It deteriorated to 31.7million barrels in May; rose marginally to 34.7million barrels in June, before falling to 33.6million barrels in July last year.
In August, Nigeria produced 30.1million barrels, against the 58.2million barrels projection; followed by September in which Nigeria’s output fell to a multi-decade low of 28.1million barrels while in October and November, the country drilled 31.4million barrels and 35.5million barrels, respectively.
Furthermore, when recovery began to set in in December last year, the country managed to drill 38.2million barrels of oil, cumulating to around 417million barrels instead of the forecast of 700million barrels for the year by the Federal Government.
However, the crude oil production figures exclude condensates which are not included in the Organisation of Petroleum Exporting Countries (OPEC) calculation. In 2022, OPEC’s daily production allocation averaged 1.8million bpd.
Last year witnessed one of the worst in the history of the country as it consistently failed to meet its OPEC quota.
However, with the recent concerted effort to end oil theft in the country, there has been some recovery as underscored by the December output data.
Earlier this month, the Minister of State, Petroleum Resources, Chief Timipre Sylva, said Nigeria was working towards meeting its OPEC crude oil production quota of 1.8million bpd by the end of May 2023.
He explained that the Federal Government would continue to improve security along the tracks of the major crude oil pipelines and block every leakage through which crude oil is stolen by oil thieves and pipeline vandals.
But after months of stalling, Nigeria appears to be steadily on its way to meeting its OPEC production quota, hitting 1.235million barrels per day in December.
However, the figure differed markedly from the production of 1.59million bpd announced for the month by the Nigerian National Petroleum Company Limited (NNPC) earlier and the 1.35million bpd by a Bloomberg survey.
In January 2022, out of the expected 1.88million bpd production figure, 1.39million bpd was drilled.
In February, March, April, and May 2022, respectively, oil production fell steadily to 1.25million bpd, 1.24million bpd, 1.22million bpd, and 1.02million bpd, while in June it rose marginally to 1.15million bpd, before falling to 1.08million bpd in July.
In August, the oil sector hit a deadly blow on the Nigerian economy, slumping to 972,394bpd, and further falling to 937,766bpd in September, before rising to 1.014million bpd in October.
The Nigerian government has recently taken a rash of decisions to tackle the embarrassing oil theft situation in the Niger Delta, hiring local security groups as pipelines surveillance contractors.
Among those handed the security contracts was a firm belonging to a former Niger Delta warlord, Mr Government Ekpemupolo, also known as Tompolo.
In addition, the NNPC has announced that it can now monitor Nigeria’s oil infrastructure in real time with its new automated platform and has inaugurated a whistle-blowers scheme which rewards persons who report the activities of suspected oil thieves to the national oil company.

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Celebrate, We’re Liberated, Fubara Tells IYC …Says Detractors Now Victims Of Their Ploys

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Rivers State Governor, Sir Siminalayi Fubara, has acknowledged with delight the assurances of brotherly support from the Ijaw Youth Council (IYC), and urged Ijaw Nation to key into the on-going celebration of the liberation the State is enjoying now.
Governor Fubara gave the charge while addressing the national and state leadership of Ijaw Youth Council (IYC), who were on solidarity walk to Government House in Port Harcourt yesterday.
The solidarity walk was staged as part of activities to celebrate the heroic exploits of the late Major Isaac Adaka Boro, 56 years after his death, which is observed on 16th May every year.
Governor Fubara noted that Major Isaac Adaka Boro genuinely stood for equity, justice, and fair play, and pursued his course to ensure liberation for the Ijaw people and their clans.
The Governor emphasised that every genuine Rivers man is a liberator, adding that he was delighted to receive them on such auspicious day to re-enact the common purpose of liberation that they shared.
Governor Fubara, who thanked the large crowd for their assurances of being available to respond to his call and stand by him, should the need arise, said there would not be any need to cause disruption of the peace, as according to him, the enemies of the State have been defeated already.
He said, “Because he stood for that unique thing, even after his death, we still celebrate him because he was a liberator.
”Every Rivers man, it doesn’t matter whether you are Ijaw or upland, the most important thing is that every genuine Rivers man must be a liberator.
”And I’m happy that you have come here today. I have also received you because we have one common purpose: to liberate our dear State. We are not going back on that.”
Governor Fubara said: “I am happy that you’ve told me this morning that when I call on you, you will respond. But there is nothing to call on you for. Because we have already defeated them.
”By the special grace of God, what they thought that they would have done to us while we were celebrating our one year in office, they are the ones sleeping with their two eyes open. It shows that we have the Ijaw blood. And what is that blood: it is the blood of action; less talk, more action.”
Governor Fubara appealed to Ijaw youths to conduct themselves peacefully as they celebrate the Major Isaac Adaka Boro Day, and also be good ambassadors of the entire Ijaw Nation.
He emphasised that it should be done in the same spirit that had enveloped the State now celebrating victory over his political detractors.
Governor Fubara promised to support the IYC Eastern Zone to have a befitting Secretariat in Rivers State.
In his speech, the National President of IYC, Mr Jonathan Lokpobiri, described the day as historic because Ijaw people were meeting with their Governor on Major Isaac Adaka Boro Day of memorial.
Mr Lokpobiri said it affirms that the gods of Ijaw people are at work, and warned all detractors to retrace their steps, and allow the Governor, who has the full mandate of the people, to discharge his duties to Rivers people.
He commended Governor Fubara for his courage, bravery and commitment to good governance, insisting that his struggle and triumph resonates with the hope of all Ijaw people.
On his part, Chairman of IYC, Eastern Zone, Mr Tamuno Kpokpo, clarified that their visit is not to signify an ethnic war but to lend support in protection of the interest and continuous development of Rivers State.
Mr Kpokpo said IYC will stand to resist anybody or group of persons anywhere who dare to cause any distraction of governance anymore in the State, and appealed that the Governor be allowed to govern the State peacefully.

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Ex-Rivers Lawmakers Have Forfeited Their Seats, PDP Insists …Denies Pressure To Restore Ex-Lawmakers

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The Peoples Democratic Party (PDP), has dismissed claims that it was under pressure to compromise its position on the status of former members of the Rivers State Assembly who forfeited their seats on account of their decision to dump the party.
National Publicity Secretary of the PDP, Hon. Debo Ologunagba, said this in a statement in Abuja, yesterday.
He declared that nothing will make the party change its position on the vacation of seats by former members of the Rivers State House of Assembly who defected from the PDP to the All Progressives Congress (APC).
Ologunagba said, “The Party also clarifies that it is not under pressure from any quarters to compromise its position in Court wherein it had already clearly stated that the former Rivers State lawmakers are no longer members of the Rivers State House of Assembly from December 11, 2023, when they publicly announced their defection from the PDP to the APC.
“This clarification is a refusal of a mischievous report in a section of the social media falsely claiming that there are plots to compromise the party’s position and provide an unattainable lifeline to the former members of the Rivers State House of Assembly to return to their seats which they have constitutionally vacated.
“Our party therefore stands by its position that the affected members have since lost their seats in the Rivers State House of Assembly having arrogantly committed an unpardonable constitutional breach.”
He further stated that, “For the avoidance of doubt, the PDP in its Counter Claim by its National Legal Adviser, Kamaldeen Ajibade SAN in Suit No: FHC/ABJ/CS/1681/2023 filed at the Federal High Court Abuja stated clearly that the former Rivers State lawmakers “are no longer members of the Rivers State House of Assembly from December 11, 2023, when they publicly announced their defection from the PDP to the APC.
“For emphasis, the PDP in the said Suit seeks among others the following Declaration/Orders against the former Rivers State lawmakers.
“A Declaration that by provisions of Section 109 (1)(g) of the Constitution of Nigeria 1999 (as amended), the seats of the plaintiffs have been vacant since 11th December 2023 when the plaintiffs announced their defection to the All Progressives Congress (APC).
“A Declaration that the plaintiffs are no longer members of the Rivers State House of Assembly having defected to the All Progressives Congress (APC) on 11th December 2023.
“An Order directing the first defendant (INEC) to conduct bye-elections in the respective constituencies of the plaintiffs in compliance with the provisions of the laws.
“An Order of perpetual injunction restraining the plaintiffs from parading themselves and/or further parading themselves or from performing or further performing the functions and duties of members of Rivers State House of Assembly…”
Ologunagba further said, “Happily, there are plethora of Judicial decisions from the highest court in our country in support of the position taken by our party.”

 

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Don’t Hurt Anybody, Else You Won’t Be Forgiven, Fubara Warns LG Chairmen …As Mbata Flags Off 33.5km Elele-Egbeda-Omoku Road

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Rivers State Governor, Sir Siminalayi Fubara, has warned that any out-going local government chairman in the State who hurts any well-meaning Rivers person will not be forgiven.
The governor pointed to an event that happened on Tuesday, where miscreants attacked some persons who attended the inauguration of the Aleto-Ogale-Ebubu-Eteo Road project, on their way home, and said such show of animosity was utterly needless.
Fubara gave the warning at Egbeda community, venue of the ceremony for the official flag-off of the Elele-Egbeda-Omoku Road project in Emohua Local Government Area, yesterday.
The governor, according to a statement by his Chief Press Secretary, Nelson Chukwudi, said, “Let me also say this here. When we left Aleto the other day, some people went there and attacked our people. There is no need for that.
“Nobody has the monopoly of violence. I should even be the one who should come out and shout that I will do this and that. But I don’t need to do that because both sides belong to me. I have taken oath to protect all.
“So, I am advising those people who call themselves local government chairmen: you have a few days in office. Please, conduct yourselves in a peaceful manner.”
Fubara drew the attention of the local government chairmen to the reality of life after office, which should help them to become more circumspect.
He said, “Politics will come, politics will go, but we will still live our lives. Let nobody deceive you, if you deliberately hurt anybody, because of expressing your useless support, nobody will forgive you. You will pay for it.
“So, I’m begging everyone, please, conduct yourselves. As a matter of fact, I am the one that is most hit, and abused as a Governor who doesn’t know what to do with power. Is it not? Have I said anything?
“So, please, just endure until when you finish, then you go your way. I don’t want trouble. I don’t want anything that will bring any problem in this State. I know what they want to do, but we will not give them the opportunity”.
Fubara further said: “We have made our promise to our leader, who happens to be the President of the Federal Republic of Nigeria, that we will take the path of peace and that is the part we are taking.
“We will continue to take that path. Don’t mind what they say. Don’t mind what they do. Peace remains the path to take. While taking the path of that peace, it does not mean that we won’t defend ourselves, or let me describe it this way: we will not just be like a tree seeing someone coming to cut it down, and won’t do anything. No, no no. We need to also protect ourselves in a lawful manner.”
Commenting on the project, Fubara said that what is being done is to let the world know that his administration means well for Rivers State, and was transparently accounting for every kobo that had been received.
Fubara explained that the Elele-Egbeda-Omoku Road project would be funded with savings from the Internal Generated Revenue (IGR), adding that 50 percent of the total cost of N80.8billion has already been paid.
He said, “Why did we pay 50 percent? We understand the fluctuation of prices as a result of exchange rate uncertainties, and we don’t want to find ourself in a situation of too much variation. So, we sought EXCO approval, and EXCO approved that we should pay 50 percent, and we have done that.
“And, what is it that we are saying to the world? We are telling the people that we are transparent. That we are a Government that is ready to serve. We are a Government that thinks about the people first.
“This road is a 33.5kilometer road that has a bridge. It is a road that would connect Ikwerre, Emohua and Ogba/Egbema/Ndoni Local Government Areas.
“When this road is completed, commercial activities will become very easy, no more wasting of manhour on the road. And that shows that we are thinking about the people, and also caring for the well-being of the people.”
Fubara urged residents of communities in the three LGAs to support the contractor to deliver the project within the stipulated 24 months.
The governor said the contractor had already pledged to ensure the project was completed and ready for inauguration before his third year in office.
He said, “I know strongly, having confirmed the reputation of the contractor, I have no doubt that they will deliver. So, I want to thank everyone of you for your patient, continue to support us, we mean well for our people.
“This is not different from the Renewed Hope Agenda of Mr President. Our mission is not different from the mission of Mr President.
“Mr President’s mission is to give hope to our people. And we are here to give hope to the people of Ikwerre, Emohua and Ogba/Egbema/Ndoni Local Government Areas, genuinely.
“Genuinely, not because we have any economic interest here, not at all. We are doing it as a service to our people. We have started our journey in showcasing our interest, wishes, and what we have done in the past one year.”
Flagging-off the project, Senator John Azuta Mbata, who represented Rivers East Senatorial District in the National Assembly, described the dual carriage road project as the type within the capacity of the Federal Government to award but now being done by Governor Fubara.
He said, “We are, indeed, extremely delighted to have a Governor of your calibre. We salute your leadership on this occasion. We salute your humanity on this occasion. We salute your humility on this occasion.
“We salute your propensity and preference for peace and tranquility. We are very delighted to be associated with your humble self and our very presence here today, I believe, makes the point that we are your supporters.
“We don’t have to talk too much about it. Anybody who is a politician understands that my standing here means I am making a grand political statement.”
Senator Mbata further said: “We are the face of the people that are behind, and we are many, millions of people, Rivers people, chiefs, traditional rulers, elder statesmen, and businessmen. We make the silent majority that are behind, supporting the effort of the Government to emancipate the people and to bring development to Rivers State.
“I want to take the opportunity to call on all and sundry, all our people, wherever you are, to give your utmost support to the Government because for the very first time, Government has moved away from the time when the Governor was seen as a tin god, a time when the Governor demanded worship, so to say; to a time when the Governor has become a symbol, a rallying point for the people.
“A rallying point for accountability of resources of our people. A rallying point for bringing all our people into the same boat. We are in an era where there is massive and extensive consultation going on. This is the order of the day, when nobody’s view is thrown away.”
On his part, the Permanent Secretary, Ministry of Works, Engr. Atemea Briggs, said the Elele-Egbeda-Omoku Road project is a state highway that will be connecting two separate Trunk-A federal roads.
He explained that it will be constructed as a dual carriageway with solar-powered street lights to provide associated benefits of improving the fortunes of the people who will be using the road.
Also speaking, General Manager of the contracting firm handling the project, Craneburg Construction Company, Mr Elie Aden, said the road is a 33.5KM dual carriageway, adding that it will have culverts, street lights and 99 meters long bridge.
He said that about 7KM length of work has already been accomplished, and promised that they will complete the project within agreed deadline.
In his welcome address on behalf of the communities, Chief Charles Bekee, recalled how the road, once reconstructed in 2001, collapsed a decade after, due to increased volume of vehicular traffic that plied the road.
Chief Bekee noted that the road remained deplorable for a long time until Governor Fubara graciously awarded the contract for the reconstruction, leading to the flag-off ceremony.
He assured that the benefiting communities in the three LGAs that the road traverses are already resolved to protect the project with high level of cooperation to give the contractor the impetus to achieve its mandate, adding that they will sustain unalloyed support of the people to the governor.

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