Komolafe: Oil Theft Causing Consistent Shut-in of 1.2m bpd Production In a session to mark the one-year anniversary of the inauguration of the management of the Nigerian Upstream Petroleum Regulatory Commission, the Ch
In a session to mark the one-year anniversary of the inauguration of the management of the Nigerian Upstream Petroleum Regulatory Commission, the Chief Executive, Mr Gbenga Komolafe, speaks on how much the regulatory agency has achieved during the period and aspirations for the future. Oil theft is a big challenge. Aside the means of tackling it, which are already in the public space, tell us what else you are doing to stop it.
Trustees are being set up. So, in that respect, what is happening is that the commission will ensure the settlors or operators actually mandatorily make sure it works and the commission is ensuring that that is adequately done in line with the provisions of the law. Earlier, you mentioned that the nation has about 37 billion barrels reserves. Do these include those in the frontier basins? And how have you met your projected revenue to government?
We are doing everything possible to ensure that shut-in wells begin to produce. We are engaging all the operators and we just finished with a particular operator and the target is to have clarity around their operations, work programmes and challenges. The responses we had had have been heart-warming. We have good assurances and they are continuing investment in that respect.The commission has achieved fundamental milestones in our mandate.
We have carried out automation of upstream work processes which is almost completed. It is planned to improve the efficiency of our work processes and become operational before the end of year 2022. Also, we have published up-to-date data on national crude oil production on the commission’s website which has ensured transparency of data and information and provided accurate volume to both internal and external users.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ex-Ministers, Diplomats Ask Buhari to Institute Judicial Inquiry into Oil Theft – THISDAYLIVE
Read more »
Save Nigeria from global scandal, probe oil theft, ex-diplomats tell BuhariThe Academy of International Affairs, a body of eminent and retired professionals and scholars in diplomacy and international affairs
Read more »
Oil theft: 134 ships rust as court cases dragThe Federal Government may lose some of the 134 ships currently detained at the Lagos, Port Harcourt and Warri Naval bases for oil theft and economic crimes as their conditions have reportedly deteriorated due to the long time they have been held and exposed to the elements.
Read more »
Oil theft as distraction amidst going pillageIn 2008, we got traction. I was published in the Financial Times drawing global attention to it. President Yar’adua called on the G8
Read more »
CAN, Onaiyekan: Fear of Terror Attack Causing Panic Nationwide – THISDAYLIVE
Read more »