Tag: Crude Oil

  • Illegal sale of 48m barrels of crude: Reps send 2nd invite to AGF, Finance Minister

    Illegal sale of 48m barrels of crude: Reps send 2nd invite to AGF, Finance Minister

    The House of Representatives Ad-hoc Committee probing the Alleged Illegal Sale of 48 million Barrels of Crude oil to Foreign Destinations has re-invited the Attorney-General of the Federation and Minister of Justice AGF Mr Abubakar Malami SAN and the Minister of Finance Dr Mrs. Zainab Ahmed to appear on Thursday May 25,2023 at 10:00 am unfailingly.

    The Chairman of the House Ad-hoc Committee, Hon. Mark Gbiillah re-issued the invitation at the ongoing 3-day investigative hearing of the committee, in Abuja.

    According to Hon. Gbillah both ministers are to explain the whistleblower policy of the federal government and provide the committee with all requested documents on the issue under probe by the House.

    TheNewsGuru.com, (TNG) reports the lawmakers had earlier grilled the Director of Development of the Nigeria Upstream Petroleum Regulatory Commission Mr.E. Amadusun over the N21 billion paid as loyalty by oil companies to the coffers of the agencies.

    Some of the oil companies invited to the hearing, were to bring their pre-shipment inspection certificates, detail of vessels used for the export of crude, financial accounting of the lifing and the details of their banking as well as the statements to unravel the truth.

    The Operational Manager of of Millenium Oil and Gas, Mr Kingsley Etuk Akpan responding to questions before the panel, informed the lawmakers that 20 Square KM oil field was acquired by the firm.

    Recall that Malami who was earlier summoned to the investigative hearing last month, dismissed the issue of export of 48 millions of crude to foreign nations without necessary documents as fake news and baseless allegation.

  • NNPCL nabs suspected thieves with over 600 barrels of crude oil

    NNPCL nabs suspected thieves with over 600 barrels of crude oil

    The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has intercepted an illegal Crude Oil Barge and arrested six suspected crude thieves in Warri, Delta State.

    Tantita Security Services Nigeria Limited, a private security contractor, engaged by NNPC Ltd. made the arrests in collaboration with Nigerian security operatives on the premises of MAWE Services.

    Speaking, the Executive Director of Operations and Technical of Tantita, Captain Warredi Enisuoh said MAWE Services had approval from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to provide services within the confines of lifting sludge.

    The security contractor and the Nigerian security operatives also set ablaze the 1,000 metric tonnes capacity barge at a final execution point in Oteghele, Delta state.

    The barge was destroyed shortly after an inspection of the sites of Mawe Service Limited and associated barge with illegal crude oil.

    On the inspection were some officials of NNPC Ltd. and Tantita Security Services, Journalists, the Nigerian Army and Naval officers, among others.

    The team visited the Mawe Services Jetty, illegal crude oil dump site and Fenog Jetty for Illegal Crude Oil Barge inspection.

    Enisuoh said on the fateful voyage, intelligence reports received by Tantita Security Services Nigeria Ltd and Mason Engineering indicated that the MAWE Yard was being used for activities outside its approval limits.

    He said surveillance and intelligence also revealed that a 1000 metric tonnes capacity barge (FP AMANGWU) was coming to berth alongside its jetty, loaded with illegal crude oil declared as sludge.

    The captain explained that the barge was towed by an unknown Tugboat into Mawe Services Limited’s Jetty and left.

    “A team of Tantita Security Services Operatives continued to monitor the Jetty for suspicious activities. It was observed that a Sewage Truck with Plate No. JR7750XA visited the Jetty twice.

    “During its third visit on May 12, 2023, the Truck was accosted by the Tantita Security Operatives keeping constant vigil over the area. Upon inspection, the substance found inside the tank was not sewage, rather, crude oil.

    “The driver was arrested and handed over to government security operatives.

    “The driver later revealed the destination of the contents, which took us to another yard inland, also operated by Mawe Services Limited.

    “Within the Mawe Services Limited’s premises, there were two metallic cylindrical tanks of about 45,000 liters capacity, each.

    “Both tanks were inspected and one was found to be filled up with Crude Oil,”.

    He said the driver of the Truck confirmed that he had been transferring the contents of the barge into the tank that was filled.

    He said that inspection of the Yard Security Logbook showed that the Truck visited the location severally while the contents of the Truck were well spelt out as “CRUDE OIL”.

    He explained that the perpetrators usually loaded the crude from the big barge in small gallons, batch by batch then transfer to illegal refineries.

    “One new method they use now is that  they obtain documentation and authorisation from the government to fool security agencies, then go on to do other illegal jobs,” the captain said.

    The captain further explained that most times when the suspects were being arrested, they would claim to be newly employed by their companies whereas they were already trained to operate in that line.

    “At the same time I feel sad because the big players always hide behind them while the small errand boys are literally the victims.

    “I believe the law enforcement agents will get to the root of the matter,” he said.

    He said that part of the crude had been evacuated while the rest would go through combustion process.

    Meanwhile, the suspects who were paraded by the combined security team, said they were not aware of any illegal badge of crude oil but were sent by their companies to evacuate waste water with oil from the barge.

    Mr Daniel Dickson, one of the suspects working with First Priority Research Resources International Ltd, the owner of the barge said the barge was hired through Petralon 54, located at Port Harcourt, Rivers State, to cargo crude from Port Harcourt to Warri in 2022.

    Dickson, who said that it was not all the compartments in the barge that contained crude said that it had about 700 barrels of crude oil but in the process of  evacuation in May 2023, the security agents caught them.

  • Malami faults allegation of losing $2.4bn from crude oil sale to China

    Malami faults allegation of losing $2.4bn from crude oil sale to China

    The Minister of Justice and Attorney General of the Federation (AGF) Abubakar Malami has dismissed claims that Nigeria lost over 2.4 billion dollars revenue from alleged illegal sale of 48 million barrels of crude oil exported in 2015 to China.

    Malami faulted the allegations in Abuja on Thursday at  the resumed hearing of  Reps ad-hoc Committee investigating alleged sale of 48 million barrels of crude oil amounting to over 2.4 billion dollars and crude oil export to global destinations from 2014 to date

    Malami who is the Chief Law Officer of the Federation, described the allegations as baseless, unfounded and lacking in merit and substance.

    The house had in December 2022,  resolved to constitute an ad-hoc committee to probe the allegation when it adopted a motion sponsored by Rep.  Isiaka Ibrahim from Ogun, at plenary.

    Malami said the office of the AGF had filed a criminal suit against the individuals who purportedly raised the allegations being investigated by the Ad-hoc Committee.

    According to him, the Individuals have  attempted to defraud the Federal Government under the guise that the alleged crude oil stolen in China has been recovered.

    Malami said the ongoing investigation initiated by the house was unconstitutional and subjudice, adding that the prosecution of the petitioners which started in 2019 suffered setback as a result of series of adjournments caused by the absence of the accused persons.

    He said the allegation in its own right was devoid of any reasonable ground,  pointing to a material suspicion cogent enough to invoke the constitutional oversight of the committee.

    He said: “Let me state on record and for the benefit of Nigerians and the committee that the allegations relating to the 48 million barrels are baseless. The allegation is unfounded. It lacks merit and indeed substance.

    “The allegation in its own right is devoid of any reasonable ground pointing to a material suspicion cogent enough to invoke the constitutional oversight of the committee.

    “In 2016,  allegations were rife and hyped in the social media. There were allegations of existence of stolen 48 million barrels of Nigerian crude in China said to have been valued 2.4 billion dollars.”

    He said President Muhammadu Buhari requested Mele Kyari, Lawal Daura, former DG of DSS;  late Abba Kyari and him, to look into it and advise accordingly.

    He said his office was instrumental to the recovery of various sums of fund deposited in the Asset Recovery Account domiciled with the Central Bank of Nigeria (CBN).

  • I’m ready for $2.4 billion oil probe – AGF Malami

    I’m ready for $2.4 billion oil probe – AGF Malami

    The Attorney General of the Federation (AGF), Mr Abubakar Malami, has indicated readiness to appear before the House of Reps ad-hoc committee investigating the alleged loss of over $2.4 billion unremitted oil revenue.

    The revenue is from the illegal sale of 48 million barrels of crude oil export from 2014 till date.

    The minister expressed this through a letter sent to the ad-hoc committee and read by its Chairman, Rep. Mark Gbillah, during the resumed investigative hearing in Abuja on Thursday.

    Malami said he would provide relevant information on the alleged sale of 48 million barrels of crude oil amounting to over $2.4 billion and crude oil export to global destinations from 2014 to date.

    Gbillah, while acknowledging receipt of the letter, said: “Today we are in receipt of a letter from the Attorney General of the Federation and the Minister of Justice who is indicating his determination to respect the doctrine of separation of powers and to support our extant laws.”

    He said the minister indicated the fact that he was trying to put together the comprehensive response that the committee had raised.

    “While we appreciate the Attorney General’s response, we would like to indicate that it came a lot later than we expected and it came without the response that we referred to.

    “So, we will appreciate if the AGF provides these responses and to also appear before the Committee next Thursday. So, let’s give him the window to appear before the Committee.”

    He however said that the Minister of Finance was still evasive, adding that the committee had not received any submission or response from the minister.

    “The Accountant General sent a response and has not responded to our follow up because we asked further questions to what he provided us information about.

    “But we want to call on the Minister of Finance, like the AGF show regards and respect for the separation of powers as enshrined in our Constitution, and respond to the request of the committee.

    This, according to him, will enable the committee to get to the bottom of its investigation.

    “Like I already said,we are giving her the benefit of the doubt; we are not unmindful of the other powers we have and we are afraid to exert them.

    “We will do so if the leeway we have provided is still neglected and not recognised by the honourable Minister of Finance,” he said.

    During the resumed investigative hearing the committee quizzed management staff of some oil companies involved in the lifting and sales of crude oil to global destinations.

    This was in furtherance of the investigation into alleged sale of 48 million barrels of crude oil amounting to over $2.4 billion and crude oil export to global destinations from 2014 to date.

  • NNPC Ltd. to begin oil drilling in Nasarawa State March 21

    NNPC Ltd. to begin oil drilling in Nasarawa State March 21

    The Nigeria National Petroleum Company Limited (NNPC Ltd) will begin drilling of the first oil well in Obi/Keana Nasarawa State on March 21.

    Malam Mele Kyari, Group Chief Executive Officer of NNPC Ltd., made the disclosure when he led Management of the Company on a courtesy visit to Gov. Abdullahi Sule on Thursday in Lafia.

    Kyari said that the company began exploration activities in the State in 2010 and has technically found petroleum environment in the State.

    “We have seen a great potential for finding hydrocarbon in Nasarawa State and to confirm this, we are going to start drilling on March 21.

    “We are very optimistic that it would be a successful exercise. It will not end there, once you find oil, you do further works to develop it not just for the benefit of the community around it but for Nasarawa State and the Country,” he said.

    Kyari pointed out that the exploration would not be limited to the current Obi/Keana location.

    “Once we test this prospect, it opens new roads and we have seen other great prospects across many parts of the State. This will herald history and bring value to all of us,” he added.

    The Group CEO thanked the government and people of Nasarawa State for the cooperation and support so far and called for its sustenance.

    “Peace and cooperation is essential in oil exploration and we have seen enormous cooperation in this respect – we have seen no danger, no risk to our operation from all stakeholders in our area of operation and we thank them for that,” he said.

    He said the company would continue to do its best to bring immediate value to the host community and ultimately to the wider society when oil was found in commercial quantity.

    Responding, Gov Sule thanked the NNPC Ltd. boss and his team for the visit and for what they were doing in the State.

    He also appreciated the people in the area for their support so far, while urging them to sustain the peace in the area and across the state.

    Sule identified insecurity as a major challenge to oil exploration in the country, calling on the people of the state to ensure they maintain peace and support the company for the project to succeed.

    He expressed optimism that the drilling of the oil well, named “Ebenyi-A” would be the first in the North Central zone of the country and would bring lots of benefits to Nasarawa State.

    In his remarks, Emir of Lafia, Retired Justice Muhammad Sidi-Bage, reassured the NNPC Ltd. on behalf of the people of utmost support towards the success of the project.

    “On behalf of our people, we want to say that you will find peace, we have been known for being peaceful, kind and loving. You will not have any reason to feel otherwise within the period of your operation in the state,” Sidi-Bage said.

    Also speaking, Sophia Mbakwe, Managing Director, NNPC Energy Services Limited, said the assurances from the government and stakeholders in Nasarawa State was critical to the operation of the company.

    “For the right to operate, we need the cooperation, support and blessing of the Governor and the community, and that we have gotten today.

    “The intent is that it’s going to benefit both parties and we want to go there to ensure no harm to people, no harm to the environment and be able to commence drilling as planned on March 21,” she said.

    The News Agency of Nigeria (NAN) reports that the Mr Muktar Zanna, Executive Director, Frontier Exploration Services of the company had led a team other Executive Directors of the Company on courtesy visit to various Taditional Rulers in the area with hydrocarbon prospects in the State to get their support.

    Some of the traditional rulers visited included Alh. Aliyu Dangiwa-Orume, Osuko of Obi; Alh. Abdullahi Agbo, Osana of Keana; Alh. Umar Apeshi, Osoho of Olosoho (Agwatashi), as well as Retired Justice Muhammad Sidi-Bage, Emir of Lafia.

    All the Traditional Rulers gave assurances of the peoples’ commitment to peace towards the operations of the company in the state.

  • We are not on a ”witch hunting” mission, Lawmaker tells INTERPOL chief

    We are not on a ”witch hunting” mission, Lawmaker tells INTERPOL chief

    The House of Representatives ad hoc committee investigating the alleged illegal sales of 48 million barrels of Nigeria’s Bonny Light crude in China in 2015 says it is not on a ”witch hunting” mission.

    Rep. Mark Gbillah, Chairman of ad hoc committee, made this known at a session with the Inspector-General of Police, represented by the Head of INTERPOL National Central Bureau (NCB), AIG Garba Umar.

    Gbillah said the legislature was fulfilling its constitutional mandate in the interest of the Nigerian people.

    The ad hoc committee is investigating all crude oil exports from 2014 til date as well as the illegal sale of 48 million barrels of Nigeria’s Bonny Light crude in China in 2015 estimated at $2.4 billion

    He queried why the individuals who were star witnesses and ready to give evidence would suddenly be tagged “fugitives” and declared wanted by the police.

    ”Harassing and intimidating the witnesses, while assuring that the House was determined to unearth the hidden issues in the alleged illegal deals.

    “There is an allegation that sometime in 2015, a presidential committee was set up and members traveled to China at the instance of a whistleblower of Mexican citizenship about the existence in China of millions of barrels of Nigeria”s crude.

    “This individual expressed an interest to purchase this crude which the government at the time allegedly needed to investigate first so this committee went to China, confirmed the existence of this crude.

    “But this individual concerned alleged that when the process of selling this crude commenced they were no longer contacted.

    “They have evidence of the fact that the crude was sold without the money being remitted to the coffers of the Nigerian government,” he said.

    The chairman also alleged that the concerned individuals were being intimidated and threatened.

    This according to him, involved them being charged to court over this matter and eventually the matter was discontinued because the parties involved did not want it to become public knowledge.

  • Reps vow to probe, expose loss of $2.4bn alleged sale of 48m crude oil barrels

    Reps vow to probe, expose loss of $2.4bn alleged sale of 48m crude oil barrels

    The House of Representatives has vowed to probe and expose the circumstances which led to the loss of over $2.4 billion revenue from the alleged illegal sale of 48 million barrels of crude oil exported in 2015.

    The House of Representatives ad-hoc committee investigating the “Alleged Loss Of Over $2.4bn From Illegal Crude Sales In 2015″, disclosed this at its inaugural meeting on Thursday in Abuja.

    Recall that the House had at plenary last week Tuesday resolved to constitute an ad-hoc committee to probe the allegation, when a motion promoted by Hon. Isiaka Ibrahim from Ogun state was adopted.

    The committee was also mandated to investigate all crude oil exports and sales by Nigeria from 2014 till date with regards to quantity, insurance, revenue generated, remittances into the federation accounts or other accounts as well as utilisation of the revenue for the period under review.

    According to the motion, a whistleblower alleged in July 2020 that he had in July 2015, brought to the attention of a committee purportedly set up by the President for the recovery of missing crude oil exports, the existence of 48 million barrels of Nigeria’s Bonny Light crude oil in storage at several ports in China, under the authorisation of the Nigerian National Petroleum Corporation (NNPC) to sell the cargo”.

    Chairman of the ad-hoc committee, Mark Gbillah, in his remarks said the panel will engage local and foreign stakeholders to get to roots of the issues, also assured whistleblowers of adequate protection in the course of the exercise.

    Gbillah appealed to international partners of Nigeria such as the United States, Mexican and the Chinese government to give the committee the cooperation required and it would visit some of the countries to obtain the facts behind the matter.

    He commended President Muhammadu Buhari’s administration for bringing forth the whistleblower though he and the minister of finance recently admitted that it has not been successful in terms of the amount of revelation that they expected and the recoveries expected.

    “Now the Committee takes very seriously issues that have to do with allegations. We owe Nigerians the benefit of doubt in line with our Constitution. We owe them a duty of care to ensure that we unravel the facts of the matter before we start to make any assertions.

    “It is obviously going to be important for us to arrive at the conclusion and provide a substantive report that would obviously be in the records and would determine whether or not these issues transpired and in carrying out our functions, one of the things we are going to need to do would be to interview those who made those allegations.

    “Some of them have reached out to the committee alleging threat to their lives, they were intimidated at gun point allegedly. So we will have to travel out of the country to the United States, to Mexico, to China. I believe considering the amount of borrowing our country is subjected to now 2.4 billion dollars is money this country very seriously needs.

    “So it is not something that this house is taking lightly. The leadership of the house is in support of this committee arriving at the truth and the facts this matter. And it shows the seriousness of this house in addressing issues that have to do with the commonwealth of Nigerians.

    “Even though these allegations were made about two years ago you can see that this responsible House of the Nigerian people has still deemed it necessary to look into this matter even as we go about our electioneering campaigns. So I mentioned the fact that we would have to because of the fears expressed by these individuals,

    “It is important to also point out that an American citizen who was also allegedly knowledgeable about these issues is currently in the Ikoyi prison over other infractions he allegedly committed in Nigeria. But there are insinuations that it is not outside this particular matter that informed those issues being brought against him.

    “Of course nobody and no country would condone illegality from any national within their shores so there must have been reasons for his incarceration at the moment but I am only conveying to Nigerians the allegations that it was not also unconnected with the revelations that he had to provide with regards to this matter. There are other individuals who are in hiding but are reaching out to the committee.

    “We want to assure all the whistleblowers who have revelations to provide to this honourable committee that their information would be treated in the strictest level of confidence as it is done all over the world . we can receive evidence behind closed doors before we make them public because we too are concerned about spurious and false allegations.

    “So we too want to determine and see the facts behind any such allegations before we bring them to public knowledge because we are a public body saddled with the representation of the Nigerian people so we have to also do things responsibly.

    “We are also keen as a house on very quickly enacting the whistleblower bill. We know the executive has been working on one but it appears to be taking them a lot of time to do so.

    “Where these crude oil sales allegedly took place, those who were involved, who claimed they were entitled to some percentage of the amount when these sales took place, they’ve been very helpful in providing us with the names of some of the individuals who were allegedly in this matter but for the sake of confidentiality and seriousness of this matter,we might not be able to divulge that information until we obtain the facts.

    “They have told us they have video recordings, photographs of the meetings, documentation to show email trail and discussions and even bank bank account statements of very highly placed people where these transactions tool place”, he added.

  • Oil theft: Nigerian Army recovers 445,000 litres of crude oil

    Oil theft: Nigerian Army recovers 445,000 litres of crude oil

    The Nigerian Defence Headquarters says it has recovered 445,000 litres of crude oil, 1.04 million litres of Automotive Gas Oil, 22,000 litres of Premium Motor Spirit (PMS) and 2,000 litres of Dual Purpose Kerosine from oil thieves in the Niger-Delta region.

    Director of Defence Media Operations, Maj.-Gen. Musa Danmadami, who disclosed this on Thursday while giving update on military operations said cumulatively, oil thieves were denied a total of N713.6 million in the last three weeks.

    Troops of Operation Delta Safe the troops of Operation Delta Safe also destroyed 57 illegal refining sites and apprehended 21 oil thieves in Bayelsa, Delta and Rivers states within the period under review.

    “The large quantity of illegal crude oil and other petroleum products recovered and destroyed and the number of arrested oil thieves and pipeline vandals, shows the unrelenting efforts by the troops of Operation Delta Safe in denying them freedom of action,” Danmadami said.

    The army also confiscated eight tankers, 63 vehicles, two speed boats, one thug boat, 14 motorcycles, one tricycle, three bicycles, 11 pumping machines and three outboard engines.

    TheNewsGuru.com (TNG) recalls that in October, the Nigerian National Petroleum Company (NNPC) Limited disclosed it had uncovered an illegal four-kilometre oil connection from Forcados Terminal into the sea that operated for nine years undetected.

    The company further said that the Afremo platform, operated by the Shell Petroleum Development Company of Nigeria (SPDC), was the suspected exit point of the stolen crude.

    Shell has launched an investigation to establish where the theft lines end and whether there have been any breaches of the unmanned platform’s security barriers or any unauthorised use of the equipment on it.

    Oil theft in the country has been ongoing for at least 22 years but the dimension and rate it assumed in recent times is said to be unprecedented.

  • ‘How crude oil refining in PH refinery will reduce pump price’

    ‘How crude oil refining in PH refinery will reduce pump price’

    The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA ) says resupmtion of crude oil refining in the Port Harcourt Refinery Company will reduce pump price.

    The National President of the association,  Mr Benneth Korie told newsmen on Monday in Abuja that the refinery would begin crude oil refining before the end of 2022.

    He quoted the Minister of State for Petroleum Resources, Chief Timipre Sylva as assuring that the PHRC refinery would soon begin crude oil refining.

    The Nigerian National Petroleum Company Limited (NNPC Ltd) commenced the rehabilitation of PHRC refinery in May 2021.

    The Federal Eexecutive Council (FEC) had approved $1.5 billion dollars for the rehabilitation exercise which was being executed by Tecnimont SPA, an Italian company, in three phases of 18, 24 and 44 months.

    The PHRC operates two refineries; the old refinery with a capacity of 60,000 barrels per stream day (bpsd) and new refinery with an installed capacity of 150,000 bpsd.

    This, he said, brings the combined crude processing capacity of the PHRC refineries to 210,000bpsd.

    He said with this development, the price of petroleum products would go down, adding that the refinery had been under maintainace and would come up in production once operation began.

    “But we have assurances from the Minister of Petroleum Resources that the PHRC refinery will start working this December, definitely between now and end of January 2023.

    “After Port Harcourt, other refineries including Warri and Kaduna will come up because work has been seriously going on there.

    “Then you will see that prices of petroleum products will go down on its own because there is a difference between importation of products and loading from our refineries,” he said.

    He said the refinery, when it become operational would blend Automative Gas Oil (AGO), Premium Motor Spirit (PMS), DPK, Jet A1 and other products.

    The NOGASA president decried delays and cost of  distribution of products due to loading from the depot, adding that once the refineries began operation, importation of petroleum would stop and the trucks would loading directly from it.

    “Formerly; trucks used to load from refineries but now paid vessels spend between 10 and 14 days to load product from depots  as against one day, marketers and transporters are suffering and sacrifice a lot in the bid to distribute products,” he said.

  • 2023: I’ll name, shame oil thieves as president – Atiku

    2023: I’ll name, shame oil thieves as president – Atiku

    Candidate of the People’s Democratic Party (PDP) for the 2023 presidential election, Atiku Abubakar has said there will be no hiding place for oil thieves and their accomplices if he becomes president.

    Atiku made the pledge today when he interacted with a broad spectrum of corporate Nigeria under the aegis of the Business Dialogue Stakeholders Forum at Eko hotel in Lagos.

    Atiku also said he would, in the interest of national development, confiscate all oil blocs allocated to some Nigerians who have failed to make them operational.

    The former Vice President, who promised to sustain frequent interactive sessions between government and the country’s’ business class when voted to power, equally outlined the ways he would tackle what he described as an ailing economy.

    “If you are not going to develop oil blocs given to you, we will take it away and give it to those who will develop it. We will also assemble the names of those involved in oil theft, publish same and prosecute them,” Atiku told the stakeholders.

    On his plans to boost the oil and gas sector, Atiku recalled that under the administration of ex-President Olusegun Obasanjo the quota of oil production was earmarked for increase to four million barrels per day.

    That plan, he explained, would be resuscitated and sustained beyond the projected figure, when he is voted into office next year, pointing out that in order to do this successfully, the Petroleum Industry Act (PIA) and any other enabling law would be invoked.

    “When we were in government, we started this process. However, there were hiccups. We were unable to pass the legislation to encourage IOCs to partake in the sector. We will go back to where we started,” he said.