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  • Reps quiz NUPRC over dwindling revenue in signature bonuses

    Reps quiz NUPRC over dwindling revenue in signature bonuses

    The House of Representatives on Monday quizzed the management of Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over dwindling revenues accruing from Signature Bonuses.

    The Chairman, House Committee on Finance, Rep. James Faleke, discovered this at the interactive session with revenue generating agencies in Abuja

    He said the document submitted before the committee showed that the projected N251 billion revenue from Signature Bonuses in 2024 fiscal year would decline to zero by 2026.

    The lawmakers queried the commission over the revenue accrued from the sale of federation assets to Nigerian National Petroleum Corporation Limited (NNPCL).

    The commission is expected to give details of its involvement in Signature Bonuses and measures put in place to expand the monetisation of the country’s oil assets.

    Falake however summoned NNPCL management over federation assets acquired from NUPRC, with a view to ensure accountability of public funds.

    The committee also requested for supporting documents on the projected crude oil supply for 2024 to 2026, while demanding for copies of the oil audit conducted by NUPRC.

    The lawmakers also requested for details of the Commission ‘s preparedness to meet the negotiated LPG supply to Germany which was brokered by President Bola Tinubu during the 10th German-Nigerian business forum.

    Speaking earlier, NUPRC Chief Executive Officer, Mr Gbenga Komolafe said that the commission was working on the proposed LPG supply to Germany.

    The Commission, represented by Executive Commissioner on Economic Regulation and Strategic Planning, Mr Babajide Fasina said the commission was yet to get information on new oil blocs before they embarked on new bid rounds.

    Faleke however demanded for evidence of payments made by NNPCL, as well as list of assets acquired, among others.

    The committee asked NUPRC to provide explicit plans put in place to meet up with projected crude oil in 2024/2026 amidst oil theft.

    Recall in January 2022, NUPRC management said 33 companies failed to pay the required signature bonuses for the 2020 marginal field bid round within the 45-day window.

    Komolafe said this during a meeting with marginal field awardees and leaseholders.

    Marginal fields are smaller oil blocks developed by indigenous companies, and they have not been exploited in at least the last ten years.

    In May 2021, the Department of Petroleum Resources (DPR) — now NUPRC — had completed the first successful bid programme after 18 years.

    Over 600 companieshad applied  to be pre-qualified for the bid rounds of 57 marginal fields, which began on June 1, 2020.

    Speaking at the meeting, Komolafe said efforts were being made to close the bid round and that the commission would support successful awardees who had paid the required signature bonuses.

    57 fields were identified for the 2020 bid round exercise, and a total of 665 entities expressed interest. After extensive evaluation processes as laid down in the guidelines, 161 entities emerged as potential awardees,” he said.

    “Signature bonuses for 119 awards were fully paid, nine awards were partly paid for and 33 awards were not paid for. This has resulted in various challenges inhibiting the close-out of the exercise.

    “The marginal field guidelines provided for 45 days for the payment of signature bonus which has since elapsed, and we have issued a public notice to that effect as well as notified the relevant potential awardees.

    “It is pertinent to inform you that concerted efforts are being made to ensure that the 2020 MFBR exercise is completed within the shortest possible time,” he said at the meeting.

  • PIA: NUPRC assures of domestic crude oil supply

    PIA: NUPRC assures of domestic crude oil supply

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the commission is committed to effective implementation of the Petroleum Industry Act (PIA 2021) for the sector to contribute more to national economy.

    The commission says it will ensure that relevant sections of the PIA that affect its operations are duly implemented, including the Domestic Crude Oil Supply to licensed refineries in Nigeria.

    Mr Gbenga Komolafe, Commission Chief Executive (CCE), NUPRC stated this during a meeting with Exploration and Production Companies on Domestic Crude Supply Obligation (DCSO) at the NUPRC headquarters on Wednesday in Abuja.

    The meeting aimed at chatting a common front with NUPRC for alignment on the implementation of domestic crude oil supply obligation, operator’s compliance status and operator’s response.

    As more private refineries indicate readiness to start production soon in Nigeria, the NUPRC is taking necessary steps within the prescriptions of the PIA 2021 to ensure adequate and consistent supply of feedstock to operators.

    In line with its mandate of ensuring crude oil supply to licensed refineries in Nigeria as enshrined in Section 109 (4) of the PIA, the commission said it recently cautioned that there would be consequences and sanctions for sabotaging the process.

    He said effective implementation of the PIA would create an enabling environment for players in the industry to thrive and ensure the petroleum industry generated more income for the government.

    “As  the pioneer regulator of the upstream sector, we want effective implementation of the relevant sections of the PIA, and we cannot shy away from it.

    “We are committed to the effective implementation of the PIA in the interest of our industry and our dear nation.

    “As I said, as a regulatory body, we will regulate in line with the provisions of the Act and whatever decision we take will be in line with the law to ensure growth and development,” he said.

    Komolafe, however, urged industry operators to uphold best practices and comply with provisions of the law as the federal government, through its relevant bodies was carrying out reforms.

  • NUPRC issues ultimatum on 3% remittance to oil communities

    NUPRC issues ultimatum on 3% remittance to oil communities

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators or settlors who failed to remit the three per cent statutory fees to oil communities before September ending.

    The NUPRC management on Friday said its attention had been drawn to the agitation by host communities in the oil and gas producing areas of the Niger Delta region over the delay by industry settlors/operators in remitting the statutory fees.

    A statement signed by the Commission’s Chief Executive, Mr Gbenga Komolafe, said the three per cent remittance was governed by Section 235 of the Petroleum Industry Act (PIA), 2021.

    The relevant section states that failure by any holder of a licence to comply with its obligations under this Chapter, may be grounds for revocation of the applicable licence.

    “Therefore, defaulting operators (settlors) under PIA 2021 (section 235) are advised to do the needful by fulfilling their obligations and remitting the outstanding arrears without further delay.

    “As the commission might be compelled by emerging circumstances to fully apply the law under section 235 of PIA 2021.

    “Notice is hereby served that in a situation where defaults are not remedied by the end of September 2023, the Commission would have no option but to revoke the licence of the defaulting settler/operator,” said  the statement.

    The commission said it understood the sentiments of the host communities, especially as the PIA had suspended and replaced existing provisions with a new Host Community Development Trust Fund (HCDTF).

    The old provisions are; Global Memorandum of Understanding (GMOU) and the Memorandum of Understanding (MOU).

    The Commission said it was fully aware of the implications of the development if allowed to fester.

    It said the agitation might frustrate the Commission’s efforts at up-scaling the drive for higher foreign exchange and attracting Foreign Direct Investment (FDI) into the country.

    Incidentally, it said it was also capable of truncating efforts at stabilising the value of the Naira, attaining the much-desired rebound in the national economy and improving the country’s macro-economic status.

    “The statutory provision of the PIA regarding the annual contribution of operators in the industry, under Section 240 (2) of the PIA, 2021, is very clear.

    “And it states: Each settlor, where applicable through the operator, shall make an annual contribution to the applicable host communities development trust fund.

    “It should be an amount equal to three per cent of its actual annual operating expenditure of the preceding financial year in the upstream petroleum operations affecting the host communities for which the applicable HCDT fund was established.

    “Given the implications of allowing continued default on sustained peaceful operations and the eventual effect on national oil and gas output.

    “The Commission will be minded to activate its regulatory powers in line with PIA’s provisions as stated above, to bring defaulting recalcitrant settlors into compliance,” said the statement.

    The NUPRC management said it recently passed the Host Community Regulation and organised a sensitisation programme, emphasising the responsibility of settlors under the PIA, 2021, but those concerned had neglected this, thereby stoking avoidable agitations.

    “The settlors are, therefore, required to perform their obligation to commence remittance of the statutory three per cent contribution,” it added.

    It stated that remittance of the statutory contribution, which should have served as succour to the host communities, had sadly become a source of pain to the lawful beneficiaries.

    This, it said, had given impetus to actions that might affect smooth upstream operations within affected host communities, a situation that could have been addressed through routine social inclusion.

    It further said although the ultimate regulatory sanction, as enshrined in Section 238 of the PIA, was the revocation of assets, but it had been careful in applying it.

    It said this was to avoid compounding the already low level of investment and divestment rate and further impact negatively on production levels and revenue.

    It said, rather, it chose to draw a balance and be strategic in implementing the provisions of the law.

  • Seplat’s capsised rig: 92 personnel safe, rescue operations ongoing – NUPRC

    Seplat’s capsised rig: 92 personnel safe, rescue operations ongoing – NUPRC

    The Nigeria Upstream Petroleum Regulatory Authority (NUPRC) has confirmed that search and rescue operations of Personnel on Board (POB) of Seplat Energy’s capsised drilling rig in Delta have started and are still on-going.

    The drilling rig had capsised while in transit and was partially submerged at about 5.00am on Tuesday.

    The NUPRC management said, in a statement on Thursday, it had been formerly notified by Seplat Energy Plc of the incident involving a drilling rig during its operation at a swamp location in Delta.

    The NUPRC said the Depthwize Majestic Rig was contracted by Seplat Energy Plc to drill Ovhor-21 well at a swamp location in Delta.

    It explained that the rig completed the drilling of Gbetiokun-11 for NEPL and demobilised on Aug. 9.

    “Thereafter, the rig commenced Rig-Move from Gbetiokun-11 well location to the planned Ovhor – 21 well location. Unfortunately, the rig capsised while in transit and was partially submerged at about 5.00 a.m. on Tuesday, Aug. 15.

    “Information from our Warri Regional Office confirmed that Search and rescue operations of Personnel on Board (POB) the rig has commenced and it’s on-going.

    “Seplat Energy has also submitted Incident Notification Form 41 to the Commission as statutorily required and commenced preliminary and detailed investigation on the incident.

    “Out of the 96 personnel on board as the time of incident, 92 have been rescued, one confirmed dead and three yet to be accounted for,” it said.

    However, it added that the divers had been mobilised to the location of the incident for search and rescue operations, while the rescued personnel were receiving medical attention at the company’s hospital.

    “The Commission will continue to update the public on the detailed outcome of the investigations as more information becomes available,” it said.

  • NUPRC workers challenge Management, demand good condition of service

    NUPRC workers challenge Management, demand good condition of service

    Workers of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have come out in their large numbers to protest against it management over issues bothering on poor handling of their welfare.

    Placards with different inscriptions like, ‘we say no to hostile policies, remit our pension deductions, our lives and welfare matters, no to super inflated contracts, stop the intimidation of staff were sigthed when the protesting workers stormed the office of NUPRC in Abuja.

    Addressing journalists after the peaceful protest on Tuesday, branch chairman of the workers’ union, Okechukwu Anya said the workers deductions are not remitted to the pension fund administrators (PFAs).

    He also alleged that the management refused to pay staff claims even after registering them as some of the offices operate without light.

    “We have situations where staff going on official jobs use their own money to run the jobs, put in staff claims since last year and the management has refused to pay back those staff claims even after registering the claims.

    “We also have situations where staff are sent on transfer for over four to five months, they go and sort themselves

    “The peaceful protest shows that, we are unhappy, we are desperate, we are frustrated. We have engaged our management for so long on topical issues that affects the staff and all our complaints have all fallen on deaf ears”

    Anya, who is the NUPRC branch of
    PENGASSAN, noted that if the management didn’t honour their demands, the workers will be pulled out of the terminals in the next 24 hours.

    He also said: “There are situations where staff are sent on transfer for over four five months, they go and sort themselves out with their own money and the practice is that they should be paid within one week, yet they have not been paid.

    “We have a situation where our office at Port Harcourt has gone on for one month without light. This is unacceptable.

    “It is not the standard for a company that prides itself as Africa’s leading regulator, yet we don’t have light in our office for more than a month. It is unacceptable and we are registering our disgust.

    “Our Lagos office has been running for months without water. We are angry because our management have refused to provide conducive atmosphere in line with International Labour Organisation prescription for management to provide good working environment.

    “The staff are the people going to terminals, going to offshore, doing their best regulating the oil and gas industry and bringing a lot of benefits to the country and to the government. We cannot be sidelined”

    Anya said as an affiliate of Trade Union Congress, it has taken necessary steps but no solution, ” The good thing is that the president of TUC, Comrade Festus Osifo is also our PENGASSAN president. We have written an official letter to him and communicated our position. We believe this time we are doing our protest, they will here our position and see where we go from here.”

     

  • Oil-producing communities set to enjoy all-round development

    Oil-producing communities set to enjoy all-round development

    The Federal Government has given an assurance of its readiness to ensure all-round development of oil-producing communities as enshrined in the Petroleum Industry Act (PIA).

    Mr Olusegun Ogunnubi, the Head, Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Warri Regional Office, gave the assurance in Warri, Delta.

    Ogunnubi said that the Host Community Development Trust (HCDT) Fund created by the PIA gave the commission the statutory obligation of ensuring funding of development initiatives in host communities.

    “Through the Host Community Development Trust (HCDT) fund, NUPRC will continue to ensure compliance from the settlers as regards their statutory responsibilities towards the concerned communities,” he said.

    He said three per cent of their operating expenditure would be used to develop the communities.

    The NUPRC regional head said that if the concerned communities could not form a Trust Fund, the bulk of the funds would be used to develop projects defined by the communities.

    He commended the stakeholders and communities in the state for their cooperation with the commission and called for more support from the people of Ugborodo community in Warri South-West Local Government Area of Delta.

    Ogunnubi said that the smooth-running of the Escravos operations must be ensured.

    The Olu of Warri, Ogiame Atuwatse III, had earlier at a forum pledged his readiness to always support the leadership of NUPRC.

    He spoke while playing host to Ogunnubi and his team in his palace at Warri

    The traditional ruler urged the Chief Executive of NUPRC, Mr Gbenga Komolafe, and his team to tackle the challenges facing host

    He also called for transparency in the commission’s engagements with the host communities and other stakeholders.

    The Olu of Warri expressed optimism that the NUPRC Warri Regional Office would succeed in it assignment.

    He urged the commission to organise an enlarged forum of relevant stakeholders and the host communities for a felt-needs assessment.

    In the delegation led by Ogunnubi were Dr David Michaels, Mr Tom Senibo, Head of Development and Dr Muhammed laminga, Head of Gas Production.

  • NUPRC unveils digital platform for host community development

    NUPRC unveils digital platform for host community development

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled an Industry Digital Automated Portal (IDAP) for monitoring and reporting of the Host Community Development Trust (HCDT).

    The commission said the platform was developed for transparent administration of the host communities as provided by the Petroleum Industry Act (PIA) 2021.

    The portal was unveiled on Wednesday in Abuja at the NUPRC’s stakeholders’ engagement on operationalisation of the HCDT pursuant to the PIA 2021.

    Speaking at the event, the Commission Chief Executive, Mr Gbenga Komolafe, said the IDAP which was developed in partnership with an Original Equipment Manufacturer (OEM) would meet specific requirements of the HCDT.

    This, he said, would aid operations of relevant stakeholders including the settlors, board of trustees and fund managers, among others.

    Komolafe said the platform would fulfil obligations to host communities and promote accountability and transparency in the HCDT programme management.

    Komolafe was represented at the event by Dr Kelechi Ofoegbu, the Executive Commissioner, Economic Regulation and Strategic Planning, NUPRC.

    “It will also enable quick feedbacks from the stakeholders and the public for the commission to carry out its regulatory oversight effectively.

    He disclosed that the commission had approved 75 host community development trusts of which 41 had been fully incorporated by the Corporate Affairs Commission.

    According to him, it has pre-qualified 19 fund managers and equally commenced the process of establishing a baseline of ongoing community development projects, in preparation for their migration into the HCDTs.

    “The establishment of the HCDT will create a more equitable distribution of the industry’s benefits and reduce the social and economic disparities in the country.

    “NUPRC shall continue to provide requisite support and guidance for the full implementation of the law,” he said.

    Komolafe also urged stakeholders to continue to work together to ensure the successful implementation of the PIA.

    He, however, tasked them to collaborate in creating a sustainable and equitable oil and gas industry that would benefit Nigerians.

    Komolafe said the commission was prioritising efforts toward increasing oil and gas production and ensuring maximum federation revenue through the optimisation of oil and gas value chain.

    “The efforts have been constrained by myriad of challenges ranging from insecurity, low investment, de-prioritisation of funding of hydrocarbon development arising from energy transition.

    “Currently, Nigeria has the technical allowable capacity to produce about 2.5 million barrels of oil per day. However, arising from the highlighted challenges, our current production hovers around 1.5 million barrels of oil and condensate per day.

    “To further stem the tide of sabotage and third-party interferences on oil and gas critical infrastructure, the PIA has in effect domesticated the protection of our oil and gas infrastructure to the host communities,” he said.

    He said that one critical milestone under the PIA was the incorporation of the HCDT by the settlor provided for in Section 235 as well as appointment of Board of Trustees (BOT) by the settlor in consultation with the host communities.

    “Settlors are the oil and gas companies operating within host communities,” he added.

    Earlier, Captain John Tonlagha, the Executive Commissioner, Health, Safety, Environment and Communities, NUPRC, solicited support and collaborative contribution of all industry players toward implementation of provision of law regarding host communities.

    Section 240 (2) of the PIA stipulates that each settlor, where applicable through the operator, shall make an annual contribution to the applicable host communities development trust fund.

    The amount shall be equal to three per cent of its actual annual operating expenditure of the preceding financial year in the upstream petroleum operations affecting the host communities for which the HCDT was established.

  • FG approves amendment of deep offshore oil block mini bid round schedule

    FG approves amendment of deep offshore oil block mini bid round schedule

    In a bid to boost confidence in the transparency and continuity of the 2022/2023 Deep Offshore Oil block Mini-bid Round process, President Muhammadu Buhari has approved the amendment of the bid round calendar to accommodate the concerns expressed by both local and international investors over the closeness of the schedule to the terminal date of the present administration in the country.

    Following the approval by President Buhari in his capacity as the Petroleum Resources Minister, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revised the Deep Offshore Oil block Bid Round Schedule by extending the deadline for the submission of Technical/Commercial bids to May 19, 2023, as well as the timeline for concluding activities of contract negotiations and signing between July 3 and 28, 2023.

    The Commission Chief Executive, Engr, Gbenga Komolafe indicated that the 2022/23 Deep Offshore Oil block Mini-bid Round is progressing in accordance with the Bid Round Schedule which has been published as part of the Bid Round Guidelines. The outstanding activities for the conclusion of the exercise include the Technical/Commercial Bid Submission and the Ministerial Consent/Contract Negotiation and Signing.

    The Technical/Commercial bid submission involves Data access, purchase, evaluation, bid preparation and submission; Bid evaluation and publication of results was well as Commercial bid conference and announcement of winners.

    The CCE reiterated that the Commission is fully committed to conducting the bid round in a manner that guarantees the achievement of the objectives of the exercise, pointing out that participation is both robust and beneficial to key stakeholders.

    However, constant interrogation and oversight of the process revealed two concerns which the Commission felt might impact the success of the exercise if not immediately addressed.  The concerns are the plan to conclude the bid process before transition to the new Government and the need to guarantee participation of qualified indigenous companies, working collaboratively with multinationals and the International Oil Companies (IOCs) to leverage technology, funding and expertise in the deep offshore.

    The Commission has already announced the requirement for joint venture (JV) arrangements between IOCs and indigenous companies and amended the Guidelines accordingly. This measure not only addresses the second concern, but is also in consonance with, and supports the Nigerian Content requirements of the Bid Round. It is also in accordance with Section 16(1)(a) of the Nigerian Constitution which provides that resources of the nation shall be harnessed in a manner that promotes national prosperity and efficient, dynamic and self-sustaining economy.

    The extension of time is also to afford interested multinationals and IOCs enough time to enter into, and conclude the necessary joint venture arrangements as well as allow for proper evaluation of relevant data by all bidders.

  • Forensic audit report indicts DPR for Nigeria’s oil loss

    Forensic audit report indicts DPR for Nigeria’s oil loss

    Nigeria’s huge oil loss estimated at 600, 000 barrels of crude per day has been a major source of concern to the government and stakeholders, prompting an investigation which has now indicted the Department of Petroleum Resources (DPR).

    Historically, Nigeria has been the largest exporter of oil in Africa, despite a lack of infrastructure that has hindered the country from being able to export at 100 per cent capacity.

    But in recent times, oil production in the country fell from 1.4 million barrels per day (bpd) at the start of 2022 to 900, 000 bpd as of September, plunging the country to fourth place among largest oil producers in Africa, behind Angola, Algeria and Libya.

    The Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) Mele Kyari, claimed 600,000 barrels of crude oil produced per day were unaccounted for, owing largely to oil theft.

    However, a forensic audit conducted by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), discovered that between January 2020 to November 2022, 40 per cent of the volumes of crude oil losses in Nigeria are due to measurement inaccuracies and not theft.

    Chief Executive Officer of the NUPRC Gbenga Komolafe, also said that Nigeria was currently flaring about 10 per cent of gas produced, in a country where the cost of 12.5kg of cooking gas is about 40 per cent of the N30, 000 minimum wage.

    Komolafe further disclosed that agents of the commission will henceforth, assume responsibility for the deployment and maintenance of metering facilities across Nigeria’s oil and gas establishments, for transparency in hydrocarbon accounting.

    “The reform measure adopted by the commission offers a paradigm shift from the trajectory in Nigeria’s hydrocarbon measurement since oil was discovered in Nigeria in Oloibiri in 1956 and is aimed at ensuring that no one becomes a judge in his own case,” he said.

    The DPR is responsible for maintaining records on petroleum industry operations, particularly on matters relating to petroleum reserves, production, exports, licences and leases.

    It also monitors the Petroleum Industry operations to ensure that are in line with national goals and aspirations including those relating to Flare down and Domestic Gas Supply Obligations.

    Nigeria Extractive Industries Transparency Initiative (NEITI), had also previously accused the agency of failing to install meters at wellheads and the lack of capacity to monitor deep offshore, thereby making it difficult to ascertain the exact amount of crude oil produced in the country.

    However, DPR’s Head of Public Affairs, Paul Osu, insisted that every litre of crude produced in the country was adequately captured during the process of extraction.

    Osu explained that the DPR had launched the National Production Monitoring System (NPMS), as part of efforts to boost crude accounting process from production to export.

    “NPMS is an online platform for the direct and independent acquisition of production data from oil and gas facilities in Nigeria and enables DPR to exercise surveillance, perform production monitoring and data analysis for utilisation and forecasting,” he said.

  • Petroleum Ministry, NUPRC differ on crude oil loss in Nigeria

    Petroleum Ministry, NUPRC differ on crude oil loss in Nigeria

    The Minister of State for Petroleum Resources, Chief Timipre Sylva has attributed the loss of revenue from crude production to theft, pipeline vandalism and decayed infrastructure.

    The minister, in a statement on Monday by his Senior Adviser, Media and Communications, Horatius Egua said in spite of the challenges, the Federal Government was determined to end the trend.

    Sylva said the Federal Government was determined to end the trend through improved investments and security along the major oil and gas pipelines in the Niger Delta region.

    Recall the Chief Executive of the Nigerian Upstream Regulatory Commission (NUPRC), Engr Gbenga Komolafe had attributed approximately 40% of the volumes credited to crude losses in the Nigerian petroleum industry to measurement inaccuracies and not theft as often reported.

    However, according to Sylva, contrary to the position of NUPRC, the major sources of crude oil losses were theft, pipeline vandalism and production deferment as a result of pipeline non-availability.

    “It is a known fact that the major losses of crude oil in the country have been through theft and destruction of oil pipelines.

    “Again, we also know that some of the oil infrastructure are old and decayed and cannot perform at maximum capacity.

    “And there is also the issue of lack of investments in fossil fuel in the country and the drive towards renewable energy has really hampered new investements in this sector,” he said.

    The minister said the government had put measures in place to restore sanity in the sector.

    He added that contrary to the report, the problem associated with crude oil losses are systemic issues that the government was already handling with a view to finding permanently solutions to.

    Sylva, therefore, urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to harmoniously work together.

    This, he said, would ensure that the constraints and impeding challenges in the optimal crude oil production volume were speedily addressed to boost national revenue.

    According to him, the Federal Government cannot continue to lose revenue through perceived lapses in crude oil production, especially at this very critical period of scarce revenue for the nation.

    The minister said that this was not the time to dwell on the mistakes of the past or engaged in needless blame games but a time to work to close all existing leakages to enable government get maximum benefits from its crude oil and gas assets.

    While expressing satisfaction at the improved security along the major oil pipelines in the region, Sylva called for sustained efforts by all concerned to maintain maximum crude oil production.

    “We are very confident that Nigeria will achieve two million barrel per day crude oil production target very soon.

    “The government is doing everything possible to get to where we should be and everyone is working hard to achieve this,” the minister said.