Oil and gas
Surveillance contract award to Tompolo will end oil, gas theft -HOSTCOM
The National leadership of Host Communities of Nigeria producing Oil and gas (HOSTCOM) has indicated that the crude oil surveillance contract awarded through the NNPC Ltd to Mr.Government Ekpemupolo will end oil and gas theft.
The HOSTCOM President, high chief (Dr.) Benjamin Style Tamaranebi (JP) in a statement on Sunday in Abuja said Nigeria’s national asset will be secured even more by engaging the host communities to also join hands with security agencies in protecting the facilities.
He commended President Muhammadu Buhari for the award of the surveillance contract
“We thank President Buhari for the political will and statesmanship spirit in the right direction considering section 257 of the 2021 PIA, to award pipelines surveillance contract to our own, who have amongst others the competence and Capacity.”
He said the gesture will go a long to ending the way Nigeria has been bleeding profusely through oil and gas theft and the producing oil and states environmental desecration leading to the destruction of livelihood, and the irreparable health disorder killing the people.
He made reference to the reality of PIA which stands to cause harm to the communities as contained in section 257 sub section 2 and 3 which states that the Host Community annual 3% OPEX will be deducted, if there is any facility or infrastructure damage encountered in any community in the accounting year to the extent of the damage.
However, he said with the contract awarded to Aka Tompolo, we are confident that all the communities will be involved to secure and protect their communities and will not be deceived by any man or group of people from outside to cause mayhem to the pipelines.
“This is one of the best thing that has happened to the Host Communities, to stop the menace of crude oil theft and facilities vandalism that has caused the destruction of critical National assets over the period of time.
He said HOSTCOM Leadership has thrown its weight behind High Chief Tompolo to achieve and arrest those that are behind the scene in destroying the national economy and environment as no one is above the law.
“The organization will do all within its powers to ensure that High Chief Tompolo in collaboration with HOSTCOM in every Community producing oil and gas achieve huge success.
“With High Chief Government Oweizide Ekpemupolo alias Tompolo Host Communities of Nigeria producing Oil and gas are confident that our part of agitation has been fulfilled on community inclusiveness.
“The synergy has been built and we will partner with him to achieve the needed SDG to keep our environment clean and provide jobs for all youths.
“Consequently, HOSTCOM is using this medium to warn any group or groups of persons who are in contention with the awarded surveillance contract to the Man with competence and capacity to desist from such unpatriotic witch hunting. He said they will not fold their arms to watch the interest of the Niger Delta region sabotaged by any section of the Country saying that rather the award should be seen as a welcome development at this time of gross disunity, insecurity and instability in our country’s history.
“We need coherent stability and unity for the growth of our national economy, via the increase in petroleum productivity without interference from any quarters and the time has finally come to end crude oil theft and Vandalism.
“The new synergy put in place by the President who doubles as the Minister of Petroleum with the choice of High Chief Tompolo, Host Communities of Nigeria producing Oil and gas and ex-agitators will give Nigeria fresh air and sigh of relief in the Nigeria oil and gas sector.
“The time has come when we must work as a team with a united front to end the crisis and menace of crude oil theft, illegal refineries in the region to keep our environment safe from now on for better Niger Delta and to say no to those who come to deceive Us.”
Oil and gas
Nigeria’s Oil Earnings Projected to Hit N6.9 Trillion Monthly with Production Increase
The Federal Government may see a significant rise in revenue, up to N6.99 trillion monthly, following an increase in oil production to 1.8 million barrels per day (bpd), according to the Nigerian National Petroleum Company Limited (NNPC Ltd.).
In collaboration with industry stakeholders, the NNPC has intensified efforts to boost crude oil output to meet the government’s production targets.
This increase is coming as the average price of Brent crude remained stable at around $81 per barrel, creating favorable conditions for substantial earnings. Calculations based on current production levels and exchange rates show that producing 1.8 million bpd at $81 per barrel could yield approximately $4.37 billion in monthly revenue, which translates to N6.99 trillion at an exchange rate of N1,600 per dollar.
NNPC’s Group Chief Executive Officer, Mele Kyari, announced the milestone during a recent Oil Production War Room meeting at NNPC headquarters in Abuja, attended by top officials, including Petroleum Resources Minister Heineken Lokpobiri. Kyari emphasized that the increased production aligns with the Federal Government’s 2024 budget projections and long-term economic goals.
Chief Production War Room Officer Lawal Musa highlighted that the collaboration between the NNPC, security agencies, and local communities had been crucial to achieving the 1.8 million bpd level. The goal is now set to reach 2 million bpd by the end of the year, a target the NNPC is optimistic about achieving given the current momentum and security improvements in oil-producing regions.
Minister Lokpobiri commended the NNPC for achieving this production feat, describing it as a “remarkable milestone.” He expressed confidence that NNPC Ltd could not only meet but exceed the two million bpd target, further enhancing Nigeria’s revenue prospects.
The Chairman of the NNPC Board, Chief Pius Akinyelure, reinforced the board’s commitment to furthering this progress, urging the management and staff to pursue even greater achievements in the oil and gas sector. Dr. Paul Bebenimibo, spokesperson for Tantita Security Services Nigeria Limited, one of the private security agencies involved, confirmed the peaceful and secure environment in the Niger Delta as key to the production surge, assuring that further measures are in place to sustain and even increase output.
The drive to reach two million bpd underscores NNPC’s dedication to stabilizing and expanding oil production, with significant implications for Nigeria’s fiscal health and overall economic stability.
Oil and gas
Governor Ododo Seeks Federal Collaboration to Boost Oil Exploration in Kogi State
Kogi State Governor Ahmed Usman Ododo has called for enhanced cooperation between the state and the federal government to accelerate investment in oil exploration within Kogi State.
Governor Ododo made this appeal during a visit to Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), in Abuja on Thursday.
Special Adviser on Media to the Governor, Ismaila Isah quoted him to have reiterated his administration’s commitment to creating a favorable environment for investors, emphasizing the state’s readiness to work closely with the federal government.
He underscored the importance of fast-tracking oil exploration in Kogi in line with President Bola Ahmed Tinubu’s vision to expand exploration in Nigeria’s frontier basins.
Responding to the governor’s call, Senator Lokpobiri reaffirmed Kogi’s status as an oil-producing state and pledged the federal government’s commitment to attract investment to tap into the state’s vast oil resources. He highlighted the mandate of the Petroleum Industry Act (PIA), which tasks the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) with exploring frontier basins.
He assured that the government is ready to deploy funds for further exploration in Kogi.
Senator Lokpobiri also commended Governor Ododo for his leadership and strides in governance, noting that these efforts will be key in attracting and sustaining investment in the state.
Kogi State became the first oil-producing state in Northern Nigeria in 2022 following the federal government’s confirmation of oil discoveries in commercial quantities.
Oil and gas
We will soon unravel shady Issues in the Petroleum Sector, Senator Kawu vows
As the newly appointed chairman of the Senate Committee on Petroleum Downstream, Senator Sumaila Kawu has promised to tackle the persistent lack of transparency in Nigeria’s petroleum industry, which he likens to a “cabal.”
Kawu was appointed as chairman of the Committee following the demise of Senator Ifeanyi Uba who represented Anambra South who held sway as the chairman of the committee
Speaking to newsmen on Wednesday at the National Assembly, Kawu detailed his plans to shed light on the sector’s operations and engage the public in meaningful dialogue.
With rising fuel prices impacting Nigerians daily, Kawu emphasized the urgent need for clarity and accountability within the industry. “Our first step will be to study the current situation and gather information from relevant agencies,” he stated.
He highlighted the importance of holding public hearings, which will allow citizens to voice their concerns and experiences directly.
Kawu’s committee will focus specifically on reviewing contracts awarded by previous administrations and overseeing the current contracts for refinery repairs.
By scrutinizing the agreements, Kawu targets to expose any irregularities and ensure that funds are being used effectively.
He remarked, “We need to ask the hard questions and hold a public hearing to allow Nigerians to express their views.”
In his commitment to transparency, Kawu detailed his plans to engage with stakeholders, including the Nigerian National Petroleum Corporation (NNPC) and refinery operators, to understand the barriers to efficient production and accountability.
According to him, the recent visits to the refineries have given course fir concerns about unmet production timelines, prompting a call for a more rigorous evaluation of the situation.
Kawu’s focus on transparency is not only about identifying issues but also about fostering a culture of openness within the sector.
He promise to use the committee to dismantle the “cabal-like” operations that have characterized the industry, ensuring that decision-making processes are accessible and understandable to the public.
Senator Kawu expressed determination to implement measures that will stabilize the petroleum sector and address the legitimate concerns of Nigerians.
By prioritizing transparency and public engagement, he expressed the hope to restore confidence in the management of Nigeria’s petroleum resources.
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