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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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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.


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