The Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd, Mele Kyari, has projected an increase in crude oil production to about two million barrels per day by the end of this year. He said this during a meeting with Maritime Stakeholders at the Nigerian Navy Headquarters on Tuesday.....KINDLY READ THE FULL STORY HERE▶
Kyari expressed optimism that the target would be met through the aggressive efforts being put in place by all stakeholders to tackle crude oil theft.
Represented by the Managing Director of Pipeline NNPCL, Folorunsho Karim, the GCEO urged security agencies to continue their efforts against oil theft and pipeline vandalism to help the company meet its target.
He said, “The target is to increase production to two million barrels by the end of the year, and we are fully committed to doing that. I appreciate the support of the Nigerian Navy in making this possible.
“They have been providing significant support, which has resulted in a reduction in oil theft.
“Pipeline vandalism has also decreased significantly, and there is a lot currently happening in the industry. We hope to sustain this progress to achieve our target of 2 million barrels per day by the end of the year.”
THE WHISTLER had reported that the country’s daily production rose from 1.27 million barrels in June to 1.6 million in July.
President Bola Tinubu had given a mandate to all the stakeholders in the oil and gas sector to stop the activities of crude oil thieves.
In line with that directive, the Defence Headquarters is taking a stringent approach towards ending crude oil theft in the Niger Delta region of the country, and part of such measures is to ensure the transparency of the International Oil Companies (IOC) operating in the region.
The Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla, who spoke at the event stated that Nigeria’s development has faced numerous complex security challenges over the past few decades, including violent agitations, oil theft, pipeline vandalism, and piracy/sea robbery.
Ogalla added that these issues were driven by the proliferation of small arms and light weapons, communal clashes, poverty, and unemployment.
“The traditional methods of addressing these security challenges have not yielded the desired results. Hence, the meeting also aimed to address emerging security issues arising from the implementation of the Petroleum Industry Act.
“The Federal Government’s drive to develop the nation’s Blue Economy requires the support of all stakeholders,” he added.
He stated that the Navy was working to ensure its operations did not hinder operators but instead supported them in performing their duties and optimally producing.”
He said providing security is a way to promote ease of doing business because when there is no security, operators cannot function.
“We also ensure that our arrests and detentions do not impede legitimate business operators. When we make arrests, we conduct preliminary investigations quickly and release vessels if the information is found to be incorrect, so as not to disrupt businesses. This is our general contribution,” he added.