Energy

Oil theft: Group lauds NNPC Ltd move to engage private security

Published

4 months ago

January 30, 2024

The Northern Youth Progressive Network, has lauded Malam Mele Kyari, the Group Managing Director, Nigerian National Petroleum Corporation Limited (NNPC Ltd) over his plans to engage Tantita Security services Nigeria limited, a private outfit to guard oil facilities against theft.

The Convener of the network, Mr Bala Mohammed said this at a news conference on safeguarding of the nation’s critical oil infrastructure in Abuja on Monday.

Mohammed said that the spate of oil theft in the country had become worrisome and there was need to address it headlong.

He commended Nigerian security outfits that had been working to curtail oil theft adding that the private security outfit would add by providing more support.

“The Northern Youth Progressive Network expresses our strong support for the decision of our leader Malam Mele for thinking outside the box and engaging the services of private security outfit Tantita Security services Nigeria limited.

“Importantly also, we salute President Bola Tinubu for renewing the contract engagement. We only had thought that it will be expanded to cover the entire Niger-Delta.

“We consider the decision of Malam Mele Kyari as patriotic and noble just like the decision of late President Umaru Musa Yar’adua who granted amnesty to Niger-Delta militants that provided a lasting solution to the crisis in the Niger-Delta.

“We are optimistic that the engagement of Tantita Security services Nigeria limited, will bring a permanent solution to the issue of oil theft in Nigeria,” he said.

Mohammed said that the Niger Delta played a crucial role in Nigeria’s economy being home to significant oil and gas reserves.

He said to this end, the infrastructure that supported the extraction, production, and transportation of the resources was of utmost importance to the nation’s overall stability and prosperity.

“However, we have witnessed a series of attacks, sabotage, and vandalism directed towards these critical oil infrastructures, leading to immense economic losses and disruptions.

“We also acknowledge that sustainable development in the Nigerian state is interconnected with the security of oil infrastructures.

“It is imperative that we address the underlying issues that contribute to attacks on these facilities, such as community grievances, environmental concerns, and socio- economic challenges,” he said.

Mohammed called on the Tantita Security Operations to work in tandem with comprehensive development initiatives to prioritise the welfare and well-being of the local communities.

He also stressed the need to curb oil spillage which had devastating consequences on the livelihoods of local communities, particularly those dependent on fishing and farming.

He said that the loss of means of sustenance had led to economic hardships and food insecurity in the Niger Delta in spite of being a region rich in natural resources.

He called on the Federal Government not to undermine the genuine commitment of Tantita Security Services over the years as they had been able to arrest Mt Kali vessel at the Pennington oil platform in Bayelsa and several others.

Mohammed said that the Tantita security services had also done well by protecting Nigeria’s national assets in the oil sector which was evident in the increase in crude oil output from 500 thousand barrels per day to 1.8 million barrels per day.

“Our position is that there must be arrest, prosecution confiscation of assets both in liquid and valuables to serve as deterrence to those who are hell bent in economy sabotage no matter whose ox is gore,” he said.

Mohammed called on the government to demonstrate the political will in the fight against oil theft in Nigeria by prosecuting those investigated by Tantita Security Services and make the investigation public.

“As representatives of the most critical youth structure in the North, we recognise the vital role that secure and functional oil infrastructures play in our nation’s development.

“The revenue generated from the oil and gas sector drives economic growth, funds critical social programmes, and provides employment opportunities for millions of Nigerians.

“So protecting these infrastructures is not only crucial for the region but for the entire country,” he said.

Energy

Dangote Refinery seeks 2m barrels of US oil – Report

Published

34 mins ago

May 17, 2024

NewsDirect

Nigeria’s newly constructed Dangote refinery, Lagos is seeking to purchase millions of barrels of US crude oil over the next year as it ramps up processing rates, Bloomberg reported on Thursday.

According to the report, the plant has issued a term tender for the purchase of two million barrels a month of West Texas Intermediate Midland crude for 12 months starting in July.

“The plant, built by Africa’s richest man, Aliko Dangote, issued a so-called term tender for the purchase of two million barrels a month of West Texas Intermediate Midland crude for 12 months starting in July, according to a document seen by Bloomberg. The tender closes on May 21,” the report stated.

Recall that the 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper oil imports from the United States for as much as a third of its feedstock as it starts production.

An earlier report by Bloomberg on April 18 stated that the plant has been shipping products in weeks while readying two units to enable gasoline (petrol) output that will deliver a long-promised transformation of the fuel market both in Nigeria and the region. It attributed this to analysts.

“Dangote is going to influence Atlantic Basin gasoline markets this summer and for the rest of the year,” said Alan Gelder, Vice President of Refining, Chemicals, and Oil Markets at the consultancy firm, Wood Mackenzie.

Energy

530 CNG buses ready for deployment in Lagos, Oyo, Kwara, FCT, others

Published

12 hours ago

May 16, 2024

NewsDirect

The process for nationwide deployment of Compressed Natural Gas (CNG) vehicles has commenced. Not less than 530 buses are to be deployed by the end of the month in six pioneering states.

These are Oyo, Lagos, Kwara, Kogi, Kaduna, Nasarawa, and the Federal Capital Territory (FCT) Abuja.

Programme Director of the Presidential Compressed Natural Gas Initiative (PCNGI) Michael Oluwagbemi stated this yesterday.

It was during the event signaling the commencement of 15-day-long activities ahead of the rollout.

He said the distribution is on a demand-led basis. He added that efforts would be accelerated at the conversion of diesel and petrol-fuel engines across the country.

According to Oluwagbemi, President Tinubu has directed the PCNGI to ensure the conversion of at least 10 per cent of the total number of vehicles in the country in the first year of the rollout of the initiative.

The programme began yesterday in the Southwest with the Presidential (virtual) commissioning of the critical gas supply projects.

Today, the team will inspect the Jets and Mikano Factory along with representatives of the Ministry of Labour and workers unions.

Southsouth and Southeast stakeholders engagement will be held tomorrow in Port Harcourt, the Rivers State capital.

Affiliate conversion and refuelling at the Femadec Site as well as an inspection tour of the Total Energies support station are planned.

Another six-day inspection tour of the Kojo Factory at the Enugu-Onitsha Site will begin on May 24 to receive the first set of assembled tricycles, buses, cylinders and kits ahead of the official launch.

The Luojia Assembly Plant for CNG tricycles on the Lagos-Ibadan Expressway will be inaugurated on May 30.

“These programmes are a fulfilment of President Bola Ahmed Tinubu’s promise to drive Nigeria’s energy transition in the transportation sector leveraging CNG and enabling economic growth,” Oluwagbemi stated.

He noted the President’s political will to ensure the full utilisation of natural gas which hitherto was being flared.

Energy

Oil block bid rounds: NUPRC assures interested buyers of conducive environment

Published

24 hours ago

May 16, 2024

NewsDirect

The Chief Executive of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Engr Gbenga Komolafe, has assured prospective investors interested in participating in the country’s oil rounds of a conducive environment to conduct their business.

Komolafe made this assertion at the Miami International Roadshow for the 2024 licensing round, organised by the NUPRC in partnership with the Petroleum Technology Association of Nigeria (PETAN) and Zetse Advisory & Consulting.

Speaking, Komolafe declared that the marketing of oil blocks has garnered staunch backing from the highest echelons of the government.

Engr. Komolafe, who underscored the role of presidential support in attracting investors to the Nation’s oil sector, said the Licensing Round is part of concerted efforts by Nigerian authorities to revitalise the country’s oil and gas industry and foster increased investment.

According to him, the backing signals a concerted effort to provide a conducive environment for both domestic and foreign investors seeking opportunities in Nigeria’s energy market.

The Miami International Roadshow serves as a crucial platform for showcasing Nigeria’s vast potential in the petroleum sector and fostering partnerships with international stakeholders. By collaborating with stakeholders such as PETAN and Zetse Advisory & Consulting, Komolafe further affirms Nigeria’s commitment to fostering a transparent and investor friendly regulatory environment in its pursuit of energy sector excellence.