Skip to main content

NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
Post a Comment

Fed Govt will end oil theft, if..........

 



Fed Govt will end oil theft, if..........

By Akinola Ajibade

The Federal Government will bring the menace of crude oil thefts and associated practices to end soon,  if all go according to plans. 
The government is set to achieve this goal through the  Nigerian Upstream Petroleum Regulatory Commission ( NUPRC).
Speaking during a stakeholders' forum in Abuja recently, the Commission's Chief Executive officer, Mr Gbenga Komolafe, said that the agency is in the process of upgrading and deploying the National Production Monitoring System ( NPMS)  facility, with a view to combat the activities of oil thieves and further block all the avenues through which the proceeds of the criminal  indulgence is going to.
According to him, the deployment of NPMS, which is an electronic system that is used to  monitor oil and gas production in Nigeria, would help in curbing such activities.
He said NUPRC, an agency of the Federation Government, which was set up to replace the Department of Petroleum Resources ( DPR) is collaborating with others relevant institutions in order to finally end oil thefts in the country.
He said that the idea would ensure accurate and reliable reporting of crude oil production, adding that the National Data Repository (NDR) within NUPRC would serve as the Data Warehouse for Nigeria's oil and gas industry.
Komolafe said: " The value of information (VOI) is for purpose of oil and gas investment decision.
For example, NDR facilitates data for bid rounds in line with the statutory mandates of the NUPRC under the Pertoluem Industry Act( PIA) to prospective investors, thus enabling informed investment decision and shortening upstream business lifecycles".
He said currently, the Technological Adaptation Unit within the Engineering and Standards Department engaged service providers on new technologies that can be implemented in the Nigerian Petroleum Industry.
" In addition, we have established more data related related initiatives in the NDR such as National Improved Oil Recovery Centre ( NIORC) focussed on utilising bid data in order to drive reduction in cost per barrel" he added.


Comments

Post a Comment

Popular posts from this blog

HAPPY 70 TO ELDER ADE ADEDAMOLA OGIDAN

PLATINUM BIRTHDAY ANNIVERSARY OF ELDER ADE ADEDAMOLA OGIDAN, A FOREMOST JOURNALIST & EDITOR By Favour Ifeoluwa & Akinola Ajibade Like a new born child, beaming with smiles for coming out of his mother's womb in order to live a fulfiled life, the celebrator,Ade Ogidan fits perfectly well into this category. Simply known as AAO, a shorten form of Ade Adedamola Ogidan, the thorough based journalist is without doubt, a  well grounded newsman.. With Bachelor of Science ( BSC) Degree in   Sociology and Anthropology( 1976 ) from University of Nigeria, Nsukka,  Ogidan has cut his teeth well in Journalism. Prior to this, he  taught in Osogbo Grammar School and worked at the Nigerian Communication respectively  after his youth service, a development, which no doubt prepared  him well for journalism profession and other future engagements. Pragmatic, resilient and outspoken, where it matters, Ogidan ensured  that his tenure as the first Chairman of Pineapple Estate, Ikorod
1 comment
Read more

NNPC Completes Mechanical Rehabilitation of Port Harcourt Refinery Plant

By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company (NNPC) Limited, says that it has mechanically completed the rehabilitation of Area 5 Plant of the Port Harcourt Refining Company (PHRC). The nation's oil company began rehabilitation of the refinery two years ago, while at the same time, promised to complete its by 31st December 2023. The Group Chief Executive Officer, NNPC Ltd., Mr. Mele Kyari, said as of December 15th, 2023, 84.4% of Area 5 Plant, a key component of the Refinery, and 77.4% of the entire rehabilitation project have been completed. “In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,” Kyari stated. The GCEO commended NNPC's staff and the EPCIC contractors for doing a g
Post a Comment
Read more

Oil Block: Why Fed Govt Prioritises Production Bonus To Attract Local & Foreign Investors

Oil Blocks: Why FG Prioritizes Production Bonus to Attract Local and Foreign Investors By Ibrahim Musa The Federal Government has emphasized production bonus, which refers to the payment by an operator to a host country upon achievement of oil and gas production, as a strategy for attracting investors to bid for Nigeria’s oil blocks. Previously, the government relied on a high signature bonus, which refers to a single, non-recoverable lump sum payment made upfront by oil companies for their rights to develop oil blocks, as an option for maximizing revenue generation, thus discouraging investors with limited resources from bidding. Currently, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC which regulates activities in the nation’s oil and gas industry, has removed all entry barriers to attract massive investments. This strategy aims at growing oil and gas production, enhancing Nigerian Content Development, attracting Foreign Direct Investment, contributing to l
Post a Comment
Read more