Buhari’s efforts to tackle oil theft yielding dividends as production improves – BMO
The Buhari Media Organisation (BMO) has described the upswing in Nigeria’s crude oil production output to a daily average of 1.41 million barrels in November 2022 as a reflection of President Muhammadu Buhari’s pragmatic approach to tackling crude oil theft.
in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke the group said that data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows a daily increase of almost 200,000 barrels from the October figure of 1,230,372 barrels per day.
“The data, which is available on the Commission’s website, shows that crude oil volumes for November 2022 were 1,185,604, with blended condensates at 40,691 and unblended condensates at 187,799, amounting to 1,414,093 barrels per day.
“But just as Nigerians were still processing this piece of good news, it emerged through the Chief Upstream Investment Officer at the NNPC Upstream Investment Management Services (NUIMS), Bala Wunti, that Nigeria’s oil production, as of December 6, is 1.59 million barrels per day.
“This is a testament to the administration’s relentless effort to stem the tide of crude oil theft that once saw daily crude production dip to an all-time low of 972,394 barrels per day in August according to NUPRC’s crude and condensate production data.
“For the avoidance of doubt, it was that same month that NNPC Limited secured and awarded pipelines surveillance contracts to five private security contractors to protect oil installations in the Niger Delta regions.
“This was a time the authorities revealed that the nation was losing as much as $150m due to vandalism every two days”, the statement added.
BMO noted that the decision to involve key communities stakeholders in pipeline surveillance was crucial to the new lease of life.
“Some of the startling discoveries include illegal refineries and, according to statistics from NNPCL, 638 out of 763 illegal refineries have been taken down in recent times.
“And lest we forget, the community involvement in securing oil installations also led to the discovery of an illegal 4-kilometre pipeline from the Forcados Terminal to the sea which had operated undetected for nine years.
“We also want to recall how a super tanker, MT Heroic Idun, with a carrying capacity of three million barrels of oil was intercepted by the Navy close to a loading port in August, without authorisation to lift crude oil in what is likely to go down as the most brazen oil theft attempt in the country’s history.
“It is joyful that the vessel and the 26-man crew have been brought back to Nigeria from Equatorial Guinea where they fled and all the crew members have since been arraigned in court and remanded in custody till January next year”.
The group expressed hope that the increase in Nigeria’s daily crude oil production will translate into better life for all Nigerians.
