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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
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' NAPE is ready to lead a discourse on divestments'

By Akinola Ajibade


The Nigerian Association of Petroleum Explorationist (NAPE) is set to lead a discourse on divestments in the local oil and gas sector. 

The  discourse, which would take place in Lagos, aimed at enabling oil block buyers and sellers see the opportunities in the issue  divestments in the industry and how they can take advantage of it for growth.

According to the group, in a statement made available to News Mirror, the discourse, would help in opening opportunities for stakeholders, local players, operators, servicing companies and upstream to midstream to downstream infrastructure owners.

The theme is:  ‘The Big Sale: Opportunities in the Nigerian Oil & Gas Industry from Assets Divestments, the workshop is slated for Lagos, Nigeria’s commercial capital.

Special guest presentation will be delivered by Engr Gbenga Komolafe, the Chief Executive officer, Nigerian Upstream Petroleum Regulatory Commission ( NUPRC). Also  expected to speak at the workshop are Dr Austin Avuru, Executive Chairman, AA Holdings; Mr George Osahon,FNAPE; Chairman, Energie, Mr Chike Nwosu; Chief Executive officer, Waltersmith Petroman Oil Limited, Mrs Ireti Samuel - Ogbu and others captains in the industry. 

“In the last 15 years, there have been multiple divestments of oil and gas assets in Nigeria’s onshore and shallow offshore area. And the scale of these divestments is larger and are more frequent. Several conversations and engagements have focused on ‘why divestment?’.



“However, there is a need to discuss the possible benefits of divestment to all stakeholders,’ the statement signed by Dr James Edet, and Tunbosun Afolayan, President and Publicity Secretary respdctfully, read.

“Globally, the oil & gas industry is undergoing an accelerated evolution to respond to the world’s growing demand for cheaper, cleaner, and sustainable energy. Nigeria is not exempt from these substantial considerations; however, the 70-year-old Nigeria oil & gas upstream industry is going through additional significant transformations that are completely changing its business landscape. These transformations are driven primarily by the passing into law of the ‘Petroleum industry Act’, asset divestments and insecurities of critical upstream facilities.

“The workshop gathers critical stakeholders, decision makers and eminent speakers of the Nigerian oil & gas industry to discuss opportunities, barriers, and solutions to challenges to harness the opportunities in the Nigerian oil & gas divestments.

“There are focused presentations to be delivered on the following topics: Divestment opportunities and the challenges of insecurity, crude theft, and asset decommissioning; Funding challenges, divestment strategies and incentives; PIA the new laws and policies; regulator’s role in divestments,” the statement read.

“The event will also feature a moderated 6-man panel session on the main theme of the workshop to discuss along the following themes and considerations:

“Opportunities from divestment for local players, operators, servicing companies and upstream to midstream infrastructure owners.

“Solutions to key barriers, challenges, and issues that prevent access to divestment opportunities. And, Implication of Divestment on National Revenue, Community Engagement and Local content.”


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