Tag: Oil Production

  • I’ll do everything to ensure oil production increases – Tompolo

    I’ll do everything to ensure oil production increases – Tompolo

    Dr Government Ekpemupolo, alias Tompolo has pledged to do everything possible to ensure that the daily crude oil production output continued to be on the increase and boost the nation’s revenue.

    Tompolo,  who is also a High Chief in Ijaw land, made the promise on Saturday evening in Oporoza, headquarters of Gbaramatu kingdom in Warri South-West Local Government Area of Delta.

    He spoke shortly after receiving an “Internal Security Meritorious Award” conferred on him by the National body of the Nigeria Union of Journalists (NUJ).

    Addressing newsmen, Tompolo acknowledged the pivotal role of the media in promoting peace and stabilising democracy in the country.

    “The only place I have to call my country is Nigeria, so I will do everything within my powers, to see that crude oil production increases.

    “The critical role of the media in Nigeria cannot be overemphasized. Nothing reasonable can be achieved without the media, so, I want to appeal that they should be appreciated,” Tompolo said.

    Tompolo’s Tantita Security Services Nigeria Ltd. (TSSNL), a private pipeline surveillance security outfit was engaged by the Federal Government to curtail crude oil theft in the Niger Delta.

    Recall that between January and February 2024,’ the private security outfit in conjunction with Federal Government security agencies, impounded MT Kali and MT Harbor Spirit vessels while illegally siphoning crude oil in Bayelsa.

    Consequently, two Federal High Courts sitting in Abuja, recently ordered the forfeiture of the heavy Ocean-going liner to the Federal Government.

    The courts also ordered the Nigerian National Petroleum Company Ltd.  (NNPCL), to sell the stolen crude oil contained in the vessels.

    Earlier in his opening remarks, the President of the NUJ, Mr Chris Isiguzo lauded Tompolo’s contributions to internal security,  particularly in the Niger Delta region.

    He noted that the awardee had substantially helped the country to address the issue of crude oil theft which according to him, had overtime, occupied the national life of Nigerians.

    Isiguzo said the issues of insecurity and economic sabotage in the country had been worrisome and of a major concern to Nigerians.

    “But today, somebody has risen to the occasion and gathered an array of young men who have taken it upon themselves to help this country to continue to survive as a peaceful and united nation.

    “By his commitment, dedication and diligence,  Nigeria as a country has to a very large extent, reduced activities of men of the underworld consistently engaged in pilfering and taking our common patrimony for their selfish gains.

    “We decided that we must accord the necessary recognition to the man who carries the flag, and birthed this organisation.

    “A man who has exceptionally distinguished himself, and has been celebrated by Nigerians across all works of life.

    “A general in his own right, who has distinguished himself, ensured and maintained an appreciable level of internal security.

    ‘We have come to Oporoza to confer on him, the Internal Security Meritorious Award of the NUJ,” he said.

    Isiguzo, flanked by the National Secretary of the NUJ, Mr Shuaibu Leman and others said that the media remained the oxygen of democratic governance,  noting that “if it collapsed, Nigeria will collapse”.

    He said the issue of insecurity was a collective responsibility of Nigerians and not the government alone, urging all hands to be on deck to address the problems.

    “In your neighborhood, if you provide intelligence information to  security operatives and agencies to help achieve peace and tranquillity, you have made your contribution to solving the insecurity challenges.

    “When there is peace in all parts of the country, it will give birth to development and take our country away from being a third world to second or perhaps first world country,” Isiguzo noted.

    Tompolo also received an award from the Delta Online Publishers Forum.

    Highlights of the ceremony was the presentation of awards, parade by the TSSNL personnel and traditional dance by the Ijaw people.

  • SERAP sues NNPC over failure to account for Nigeria’s daily oil production, revenues

    SERAP sues NNPC over failure to account for Nigeria’s daily oil production, revenues

    Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over the “failure to disclose details of Nigeria’s daily oil production, exportation and the total amounts of revenues generated from oil since the removal of subsidy on petrol in May 2023.”

    Former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, had recently alleged that “the NNPCL is failing to remit enough foreign exchange into the treasury despite the removal of fuel subsidy,” asking: “Where is the money?”.

    In the suit number FHC/ABJ/CS/1719/2023 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel the NNPC to disclose details of barrels of oil Nigeria produces and exports daily and the total amounts of revenues generated since the removal of subsidy on petrol.”

    SERAP is seeking: “an order of mandamus to compel the NNPC to disclose how much of the revenues generated from the production and exportation of oil have been remitted to the public treasury since the removal of subsidy on petrol.”

    SERAP is also seeking: “an order of mandamus to direct and compel the NNPC to disclose details of payment of 11 Trillion Naira made as subsidy payments from 1999 to May 2023, including a detailed breakdown of the payments made.”

    In the suit, SERAP is arguing that: “There is a legitimate public interest in disclosing the information sought. The NNPC has a legal responsibility to disclose the details of Nigeria’s daily oil production, exportation and the revenues generated and remitted.”

    SERAP is also arguing that, “Nigerians have the right to know the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury.” Compelling the NNPC to disclose these details would promote transparency and accountability in the oil sector.”

    According to SERAP, “The failure by the NNPC to disclose the information sought is a grave violation of the provisions of the Nigerian Constitution 1999 [as amended], the Freedom of Information Act, and the country’s obligations under the African Charter on Human and Peoples’ Rights.”

    SERAP is arguing that, “Transparency would ensure that the revenues generated from Nigeria’s daily oil production and exportation are not diverted into private pockets, and increase public confidence that the revenues would be used to benefit Nigerians.”

    The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare and Andrew Nwankwo, read in part: “Nigeria’s daily oil production, exportation and the revenues generated have been mostly shrouded in secrecy.”

    “Disclosing the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would also ensure that the NNPC operates within the law.”

    “Transparency and accountability in the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would improve the enjoyment by Nigerians of their right to natural wealth and resources.”

    “The public interest in publishing the information sought outweighs any considerations to withhold the information.”

    “Despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the culture of impunity of perpetrators.”

    “Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”

    “Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions and officials to abolish all corrupt practices and abuse of power. Section 16(2) of the Nigerian Constitution further provides that, ‘the material resources of the nation are harnessed and distributed to serve the common good.’”

    “Section 13 of the Nigerian Constitution 1999 imposes clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the constitution.”

    “Nigeria has made legally binding commitments under the UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to ensure transparency and accountability in the management of public resources.”

    “Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the NNPCL to ensure proper management of public affairs and public funds. These commitments ought to be fully upheld and respected.”

    “Nigerians are entitled to the right to receive information without any interference or distortion, and the enjoyment of this right should be based on the principle of maximum disclosure, and a presumption that all information is accessible subject only to a narrow system of exceptions.”

    “By Section 1 (1) of the Freedom of Information (FoI) Act 2011, SERAP is entitled as of right to request for or gain access to information, including information on the details of barrels of oil Nigeria produces and exports every day and the total amounts of revenues generated and remitted to the public treasury.”

    “The Freedom of Information Act, Section 39 of the Nigerian Constitution, and article 9 of the African Charter on Human and Peoples’ Rights guarantee to everyone the right to information, including the details of Nigeria’s daily oil production, exportation and the total amounts of revenues generated and remitted to the public treasury.”

    “By the combined reading of the provisions of the Nigerian Constitution, the Freedom of Information Act and the African Charter on Human and Peoples’ Rights, there are transparency obligations imposed on the NNPCL to publish the details sought.”

    “The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their public institutions’ activities.”

    “The NNPCL has failed to disclose the amounts of barrels of oil the country produces and exports. The NNPCL has also reportedly failed to publish details of revenues generated from the production and exportation of oil and the amounts of revenues remitted to the public treasury as required by Nigerian laws.”

    “According to the former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, ‘It is only the NNPCL that can give the figures about how much oil we produce daily, how much we sell, and where the money is going. We are no longer paying subsidies so where are the dollars? Where is the money?’”

    “The NNPCL has a legal responsibility to promote transparency and accountability in the country’s daily oil production, exportation and the revenues generated and remitted to the public treasury. The NNPLC also has a legal responsibility to disclose details of payment of N11 trillion subsidy.”

    No date has been fixed for the hearing of the suit.

  • Nigeria will meet 1.7m bpd oil production in 2024 budget – Lokpobiri

    Nigeria will meet 1.7m bpd oil production in 2024 budget – Lokpobiri

    The Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, says Nigeria will meet and surpass the 2024 crude oil production budget benchmark of 1.7 million barrels per day (bpd).

    Lokpobiri said this at a stakeholder’s interactive session on Creating Value and Enabling Investments in Nigeria’s Oil and Gas Sector organised by Chevron Nigeria Plc.

    Lokpobiri, in a statement on Tuesday by his Special Adviser, Media and Communication, Nneamaka Okafor said the country had the capacity to increase crude oil production to 2 million bpd.

    Expressing his commitment to fostering collaboration with stakeholders to enhance the country’s oil and gas sector amidst his ambitious target for  2024, the Minister said the Federal Government would sustain stakeholders’ engagement.

    “The success of the upstream sector will determine the success of the midstream and the downstream.

    “And as a government, we are willing to sustain that engagement with the stakeholders so that in 2024 and beyond, we will ensure that we produce not just 1.7 million bpd that we need for our budget but ensure that we produce what is needed to meet the local demand,” he said.

    The Minister outlined the trajectory of sector growth since the current administration took office, starting at about 1 million barrels per day and steadily increasing to 1.4 million barrels per day.

    He expressed his ambition to continue this upward trajectory, highlighting the government’s commitment to creating an enabling environment for stakeholders to thrive.

    “As a new government that is business-friendly, with a clear mandate to ramp up production, we are willing to ensure that our fiscal regime is competitive globally.

    “My appeal is that this old marriage, let us manage it, sustain it and improve on it. Whatever your concerns may be, let us put them on the table to disagree to agree,” Lokpobiri said.

    He reassured stakeholders of the government’s diligent effort to address challenges facing the sector and provide the best playing field for both International Oil Companies (IOCs) and independents to make the necessary investments.

    “As a country, we have the capacity to produce more than 2 million barrels per day. We have identified the issues bedeviling the sector and are already working on them.

    “I would replicate this programme with all the IOCs and independents so that we can make the sector work for all of us and Nigerians at large, and I know that 2024 will be a much better year,” he added.

    The minister also highlighted ongoing efforts to rehabilitate refineries and ensure the functionality of modular refineries to enhance the country’s refining capacity, meet local and regional demands, and thrive internationally.

    The Minister, however, urged stakeholders to join hands in building a robust oil and gas sector that would contribute significantly to the economic growth and development of Nigeria.

    Recall that the Federal Government, in the Appropriation Bill, gave an average crude oil production benchmark of 1.78 mb/d, and a crude oil price benchmark of 77.96 dollars.

  • Minister of state petroleum resources, Lokpobiri reveals his only agenda

    Minister of state petroleum resources, Lokpobiri reveals his only agenda

    Sen. Heineken Lokpobiri, Minister of State (Oil) Petroleum Resources, has revealed his only agenda to Nigerians, assuring of increased oil production on a sustainable basis.

    Lokpobiri gave the assurance in Abuja on Monday while addressing stakeholders on his assumption of duty, shortly after taking hiss oath of office.

    Lokpobiri and his counterpart, Mr Ekperipe Ekpo, Minister of State (Gas), Petroleum Resources, were among the ministers inaugurated by President Bola Tinubu at the State House on Monday.

    Lokpobiri, while stating that he believed in action, and would spend more time in the field, also promised to work together with the regulatory agencies and stakeholders to boost oil production for the benefits of Nigerians.

    “I have got more energy, and I have come to utilise that energy to revamp the petroleum sector.

    “I am here with one agenda, which is to increase oil production and in order to increase it, we need to work together to achieve the desired results.

    “I am here to provide the leadership so that we can go to the Creeks and resolve all the problems,” he assured.

    His counterpart, Ekpo, who expressed gratitude to the President for finding him and others worthy to serve, said he would be committed to sustainable gas requisite framework and development of gas infrastructure for the benefit of Nigerians.

    Ekpo said Nigeria’s proven natural gas reserves positioned the nations as one of the countries with the greatest reserves, and harnessing the gas reserves would stimulate domestic economy, gas utilisation and support thousands of jobs for economic growth.

    He promised to work tirelessly to translate the potentials into realities for economic advancement.

    “With the removal of fuel subsidy, the enormous responsibility of providing alternative to fuel rests on the ministry,” he said.

    He said in line with the presidential approval of Compressed Natural Gas (CNG) Initiative, and as an immediate strategy, the ministry would examine the utilisation of CNG for mass transit sector and associating power generating infrastructure.

    “This will support the economy in many ways, including scaling down cost of transportation which will cause multiplier effects, lower food cost and reverse inflationary trend leading to measurable improvement in living conditions of Nigerians,” he added.

    According to him, post-COVID era and current Russian-Ukraine war have caused imbalances in the global gas industry.

    He said in the next few months, he would be receiving briefings from relevant ministries, departments and agencies (MDAs) with the view to ascertaining the actual status of Nigeria’s gas exploration and utilisation, state of infrastructure delivery, level of access and projects within the gas industry.

    He therefore urged the National Assembly to grant the ministry needed legislative support to achieve the responsibilities set before the ministry.

    “Only together, we can succeed,” Ekpo assured.

    Earlier, Amb. Gabriel Aduda, Permanent Secretary of the ministry, while stating that its target was to ramp up oil and gas production, said its efforts extended to the rehabilitation of refineries and the expansion of domestic gas usage.

    Aduda said from increasing crude oil production to streamlining petroleum product pricing and distribution, the ministry was revitalising pipelines, encouraging reservoir maintenance projects, and optimising idle helds.

    He added that the implementation of automated fuel management systems, the supply of gas to industries, and the enhancement of performance management systems were all steps forward in realising its shared vision.

    “With all of these in mind. I extend a warm and hearty welcome to the newly- appointed Minister of State (Oil) and the Minister of State (Gas).

    “Your dedication, expertise and leadership will be the driving force behind the transformation of our energy sector.

    “Together, we embark on a journey to ensure that our nation’s crucial oil and gas resources are managed with the utmost care, responsibility, and strategic vision,” he said.

    Aduda said the Ministry which was established in 1975, emerged in recognition of Nigeria’s pivotal status as a prominent oil producer.

    “With a mandate encompassing policies for sustainable resource exploitation, regulatory oversight, local content development, environmental protection, and fostering investment, we are entrusted with shaping the trajectory of our nation’s energy sector,” he added.

    He explained that the Ministry is guided by constitutional and legal frameworks, adding that the Petroleum Industry Act (PIA) of 2021 introduced transformative changes to governance, regulation, fiscal terms, and community engagement.

    He said its adherence to the PIA, the 1969 Petroleum Act for non-converted acreages, the National Gas Policy, and the National Petroleum Policy, was paramount in ensuring a robust, responsible, and prosperous energy sector that aligns with evolving global dynamics.

    “As we step into these roles. let us acknowledge the key responsibilities and portfolio overview that we have been entrusted with,” he said.

    The CEOs and directors of the Ministry’s agencies, including the Nigerian Upstream Petroleum Regulatory Commission, Nigerian Midstream and Downstream Petroleum Regulatory Authority, and Nigerian National Petroleum Company limited were in attendance.

    Others are representatives of the Petroleum Technology Development Fund, the Nigerian Content Development and Monitoring Board, Nigerian Nuclear Regulatory Authority, and the Petroleum Training Institute.

  • OPEC+ cuts oil production to support sagging oil prices

    OPEC+ cuts oil production to support sagging oil prices

    The Organization of the Petroleum Exporting Countries (OPEC) and Non-OPEC Participating Countries have decided to cut oil production by 2 million barrels per day.

    TheNewsGuru.com (TNG) reports that the decision was reached at the 45th meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC+.

    The meeting was also the 33rd OPEC and Non-OPEC Ministerial Meeting, which took place in person for the first time after the COVID-19 pandemic at the OPEC Secretariat in Vienna, Austria on Wednesday.

    According to OPEC+, the decision to cut oil production by 2 million barrels per day was reached in light of the uncertainty surrounding the global economic and oil market outlooks, and the need to enhance the long-term guidance for the oil market.

    According to a communique issued at the end of the meeting, the cut in oil production is effective November 2022 for OPEC and Non-OPEC Participating Countries, reiterating the critical importance of adhering to full conformity.

  • Go and occupy Sambisa, not our land – N’Delta group to Nigerian Military

    Go and occupy Sambisa, not our land – N’Delta group to Nigerian Military

    The Ijaw Peoples Development Initiative (IPDI) has called for the immediate evacuation soldiers occupying their land and send them to Sambisa.

    The call is contained in a statement signed by its national president, Comrade Austin Ozobo.

    The copies of the statement were made available to journalists on Tuesday.

    The group alleged that military have occupied Udouda and Okobe communities in Egene kingdom in Ahoada West Local Government Area of Rivers State, and denying homeless and defenceless residents to return to their homes.

    The body said it has not seen any provocation in the South-South or Niger Delta region currently to have made the military bombard, kill and conquer a residential community compared to the glaring provocations in northern Nigeria which the military is sentimentally ignoring.

    It noted that residents of Uduoda and Okobe communities were not at war with the Nigerian military and, as such, needed not to be haunted, killed gruesomely, and conquered by Nigerian troops.

    According to the statement, “If the Nigerian military is looking for somewhere to conquer and occupy, it should be the Sambisa forest and not residential communities whose common trade is fishing and farming.

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    “We want to make it abundantly clear that Uduoda and Okobe communities in Rivers State are not militant hideouts or camps and can’t be shelled or bombed with crude military intelligence because these are communities that have Government schools, churches, MTN mast, government power lines, and others.”

    IPDI called on the Nigerian military authorities to prevail on the Chief of Army Staff to evacuate soldiers out of Udouda and Okobe communities without further delay to allow the fleeing residents to return to their homes “as hundreds of persons have been made homeless and suffering as a result of these invasions.”

    “Again, we call on the Governor of Rivers State, Nyesom Wike, the Chief of Defence Staff, and Chief of Army Staff to prevail on the military task force, Operation Delta Safe in Rivers and Bayelsa State to stop further invasions in Niger Delta Communities and ensure the military personnel who have perpetrated this heinous crime against Uduoda and Okobe communities be made to face justice,” the group said.

    IPDI, however, urged Niger Delta communities to sue the Nigerian military for at least N100 billion for any unlawful military torture, harassment, and invasion “to check the excessive militarization of Niger Delta communities.”

    The group insisted that “mere suspicion that some people are carrying a gun or doing bunkering business in a community is not enough reason to bombard such community, because it should be remembered that as people, carrying a gun is being targetted, there are also good people in that community who are not carrying gun or doing bunkering.

    The statement reads in full; “The military should tell Nigerians why ancient Udouda and Okobe communities were bombarded and who are they looking for and the crime committed by such persons should be told.

    “The way the Nigerian military invades and bombards defenceless communities in Niger Delta, if they had replicated it in fighting terrorism, banditry and Islamic militants, by now, Nigeria might have been free completely from Islamic Taliban.

    “Even the Bible is against clearing the weeds and the wheat together. Jesus said live with them to grow together but on the last day, they will be separated. If what we call military intelligence nowadays is now mere hearsay. When you want to attack a residential community, you should know first, whether the place is a residential area, what the population size of those being hunted for, and other lawful residents in the community because you must avoid collateral damage.

    “The weak needs to be protected in all operations, but the case of Niger Delta is different. It is wrong to embark on any operation especially in a residential community to kill the weak. Why the weak? because the strong ones will always escape unhurt.

    “It must be made clear that no force is expected to destroy her people with weapons of mass destruction or meant for external aggression because of some provocation arising from a community. This is an act of war crime and abuse of the fundamental rights of innocent citizens.

    “There is no city or town in the world that does not harbour a criminal element or is completely free from criminal activities.

    “If the barbaric military invasions and bombardments in the Niger Delta are embraced, then the military should invade the entire world for consciously or unconsciously abhorring criminal elements or activities.

    “If Nigeria military is not lopsided or sectional, Kaduna, Zamfara, Sokoto, Abuja, Yobe and other cities and towns in the northeastern part of the country abhorring large presence of bandits and terrorists should have all been heavily air-raided by now.

    “We are seriously provoked, and we don’t care to know the crime in which the Rivers communities were shelled, because thousands of such crimes are perpetrated in the cities and towns of northern Nigeria and no raid has been carried out. This shows that Nigeria’s military operations are selective and lopsided.

    “Again, we are not moved by these lopsided attacks against Niger Delta communities in whatever coloration the military wants to paint it to justify their inimical action.

    “Currently, Abuja is under siege of Islamic terrorists and we expected Abuja to be bombed with the Islamic Taliban including all innocent people thereof, as it is being done to peaceful law-abiding Udouda and Okobe communities in Rivers State in recent times.

    “We want to state unequivocally that the suspicion that a community abhors some suspected criminal elements do not mean that there are no good people in the community. So the military should be brave enough to avoid causalities if there should be any such operation at all. If you say the good people should evacuate such a community, we will ask why the people in the northeast, Abuja, Kaduna, and others have not relocated despite the heavy presence of bandits in such communities.

    “Sadly, the military in Nigeria wants to wipe out Niger Delta communities, they protect innocent citizens in northern Nigeria but in Southern Nigeria, they kill the innocent together with suspects.

    “We want to make it abundantly clear that Uduoda and Okobe communities in Rivers State are not militant hideouts or camps and can’t be shelled or bombed with crude military intelligence because these are communities that have Government schools, churches, MTN mast, government power lines, and others.”

  • Nigeria overtaken by Libya, Angola in oil production – OPEC

    Nigeria overtaken by Libya, Angola in oil production – OPEC

    The Organisation of Petroleum Exporting Countries (OPEC) has noted that two  oil-producing African countries Angola and Libya have overtaken Nigeria in oil production. Nigeria’s oil capacity has drastically dropped to 972,000 barrels per day in August 2022.

    This revelation was made known by OPEC in its September 2022 report, confirming the figures released by Upstream Petroleum Regulatory Commission.

    Nigeria’s crude oil production slumped below one million barrels per day in August 2022, the lowest ever in several years.

    A survey in the Upstream Petroleum sector shows that the country’s oil production dropped below one million barrels per day to 972,394 bpd, the lowest in many years.

    It stated that figures from the NUPRC indicated that the country’s oil production dropped from 1,083,899 bpd in July to 972,394 bpd in August.

    Confirming this in its September 2022 oil sector report released on Tuesday, OPEC stated that the drop in Nigeria’s oil production made Angola and Libya to overtake Nigeria in oil output.

    The report stated that Angola was Africa’s highest crude oil producer for the month under review with an average production of 1.187mb/d.

    It said Libya’s crude oil production averaged also 1.123mb/d for August.

    “According to secondary sources, total OPEC-13 crude oil production averaged 29.65 mb/d in August, higher by 618,000 month-on-month,” it stated.

    The report further revealed that production of oil in Angola, Saudi Arabia increased in the month in review whilst production in Nigeria has drastically reduced due to some factors in the country.

     

  • BREAKING: Oil production vessel explodes in Delta

    BREAKING: Oil production vessel explodes in Delta

    A Floating Production, Storage & Offloading (FPSO) vessel, belonging to Shebah Exploration & Production Company Ltd (SEPCOL) has exploded in Delta State.

    TheNewsGuru.com (TNG) reports the FPSO vessel, belonging to SEPCOL is located offshore on the Ukpokiti Terminal, Escravos, Warri in Delta.

    The 22,000 barrel PD vessel has the capacity to inject up to 40,000 barrels of water PD & store 2 million barrels of oil.

    According to the management of SEPCOL, the vessel built in 1976, exploded in the early hours of Wednesday but the cause of the incident was yet to be ascertained.

    A statement signed and released by SEPCOL’s Chief Executive Officer, Ikemefuna Okafor, has it that fire engulfed the vessel following the explosion.

    Okafor in the statement said efforts were ongoing to contain the fire. Revealing that there were ten crew men on board the vessel prior to the incident, the SEPCOL’s CEO, however, stated that there were no casualties thus far.

    The statement reads: “The Management of Shebah Exploration & Production Company Ltd (SEPCOL) in RECEIVERSHIP hereby announce the unfortunate incident of a fire that engulfed our offshore facility, the FPSO Trinity Spirit located at the Ukpokiti Terminal, following an explosion during the early hours of Wednesday, 2nd of February 2022.

    “The cause of the explosion is currently being investigated and we are working with necessary parties to contain the situation.

    “At this time there are no reported fatalities, but we can confirm that there were ten crew men on board the vessel prior to the incident and we are prioritising investigations with respect to their safety and security.

    “We appreciate the assistance provided us by the Clean Nigeria Associates, the Chevron team operating in the nearby Escravos facility and our community stakeholders as well as fishermen, who have been of tremendous assistance since the incident happened.

    “We have duly notified all relevant authorities and we appeal to the members of the public to stay away from the area while our Crisis Management Team continue to monitor the situation and update all stakeholders with new information as the investigation evolves”.

  • COVID-19 helped to reduce cost of oil production in Nigeria – Sylva

    COVID-19 helped to reduce cost of oil production in Nigeria – Sylva

    The Minister of State for Petroleum Resources, Chief Timipre Sylva, says COVID-19 had helped to reduce the cost of crude oil production in the country.

    “We have reduced the cost of production successfully the issues of our local currency notwithstanding.

    “ Recently, the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR) have launched programmes on cost reduction and it has impacted the sector

    “Both programmes have helped to bring down the cost of production, but what also helped us in reducing the cost of production is from a very unlikely quarter and that is COVID-19.

    “With COVID-19, oil prices crashed and a lot of contracts were rationalised and we had to renegotiate, so, we were able at that point to get everybody on board to reduce the cost of production.

    “Also, the fact that a lot of expatriates left because of COVID-19 made our locals to step in and of course, the locals are cheaper and we have to find local solutions to some of our problems.

    “So, on the whole, we were able to significantly bring down the cost of production even beyond five per cent and our target now is not just five per cent, but we are targeting 10 per cent,’’ Sylva said, while briefing newsmen in Abuja, on Tuesday.

    The minister put the daily consumption of Premium Motor Spirit (PMS), otherwise known as Petrol, in the country at about 66 million litres per day, but was at some point brought down to 52 million litres even though it spikes once in a while.

    He attributed the spike in volume to activities of smugglers, saying that it was not a regular situation and could not be used as a measure to determine the volume of daily consumption.

    “The average consumption has actually reduced from about 66 million to about 52 million on the average,’’ he said.

    He added that government would continue to work with security agencies to ensure smuggling of petroleum products was eliminated in the country.

  • 2021 budget: How to achieve oil production benchmark – Omo-Agege

    2021 budget: How to achieve oil production benchmark – Omo-Agege

    The Deputy President of the Nigerian Senate, Senator Ovie Omo-Agege has said for the nation to be able to achieve the oil production benchmark as stipulated in the 2021 budget, certain things must be put in place.

    TheNewsGuru.com (TNG) reports Senator Omo-Agege stated this on Wednesday as the Senate began debate on the 2021 budget estimate of N13.08 trillion recently presented to a joint session of the National Assembly by President Muhammadu Buhari.

    “This 2021 budget proposal is based on two predicates. The first is the 40-dollar benchmark and the second is the oil production estimate of 1.86 million barrels per day.

    “Like I indicated in the debate for the 2020 budget, for us to be able to achieve this 1.86 million barrels per day, certain things must be in place.

    “We must have peace and indeed, maintain the peace in the Niger Delta region.

    “For those of us that represent the region, we are very worried for these are the people that represent the goose that lays the golden eggs that take care of the economy. But, majority of them are jobless; there is nothing for them.

    “That is why we maintain that the youths in these communities must be engaged and the only way they can be engaged is for these oil companies who explore oil in these communities to help in creating jobs for these people and the only way they can do this is to have their business operating headquarters located in the Niger Delta,” Omo-Agege stated.

    Also, the Delta Central Senator lamented the current state of the Benin-Sapele-Warri road, stressing the road is nothing to write home about.

    “The infrastructures that we have in that region are dilapidated. The roads are bad. A journey of 45 minutes now takes six hours.

    “As we get closer to another Christmas period with an expected influx of people and vehicular movements, something should be done right away to fix all the bad roads in the Niger Delta.

    “It is bad enough that the country is in bad shape right now but we need to try and put the infrastructures we already have in order,” the Senator said.

    He further stressed on the need to focus on solid minerals as means of revenue generation for the nation. He stressed solid minerals belong to the nation at large.

    “Secondly, we should also focus on our solid minerals. We have gold in some Northern States. I have seen the Governor of Zamfara selling gold worth N5 billion to the Central Bank of Nigeria. The golds do not belong to the state but the nation at large,” the Senator argued.