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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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NEITI Sets To Determine The Quantity of PMS Consumed In Nigeria


By Favour & Akinola Ajibade


The Nigeria Extrative Industries Transparency Initiative  NEITI 's Executive Secretary, Dr Orji Ogbonanya, says the body is conducting  a study  in order to determine the quantity of Petroleum Premium Spirit ( PMS) consumption and how the 13 per cent derivation is spent or utilised in the country. 

He said the development is necessary, in order to know how well the country uses fuel and crude oil by extension.

He said this is one of the priorities, which the group has set for itself and the country in particular, as part of efforts to ensure proper usage of the proceeds of the national oil and gas sectors. 

He however, fails to state categorically when and how the objectives of the priority areas are going to be achieved by NEITI. 

Speaking during a stakeholders conference organised by NEITI in Abuja, Ogbonanya said that the country's  energy sector holds a substantial value to the Federal Government since it provides a veritable source of income for the implementation of fiscal programmes and policies, adding that the development informed the decision of NEITI to conduct 2022 -2023 industry reports in the oil and gas mining sector, with a view to ascertain the level of development in that segment of the economy vis-a-vis how well it can be positioned for growth.

Others include the need to link NEITI Reports to revenue growth and impact and updated data and information on all financial liabilities (outstanding revenue remittances to the federation) to support government’s revenue mobilization for development and upgrade of infrastructure.


 

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