Oil theft in Nigeria under reported- Oilfield expert

 

According to a report released by the Nigeria Extractive Industries Transparency Initiative (NEITI) in November, the economy suffered losses of over $38.5 billion from the threat between 2009 and 2018.

The report was the outcome of a study on oil theft carried out by the Nigeria Natural Resource Charter (NNRC).

Without doubt, and for the first time since discovery of crude oil, Nigeria has been in a situation whereby when oil prices go up significantly, globally, it does not translate into improved earnings for the country, but a deteriorating fiscal situation.

[wonderplugin_video iframe=”https://youtu.be/ymez7_JPN7Y” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The country, this year alone, appears to have lost track of the number of pipeline sabotage incidents as it has become the norm.

It was as a resulted of this that the National Petroleum Company Limited awarded a pipeline protection contract worth N48billion yearly to Ekpemupolo a.k.a Tompolo, a former Nigeri Delta militant.

The award had elicited criticism, but Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, had said the Federal Government made “the right decision,” as events over the years have shown that the decision is rather a convenient one considering how the government has been handling issues of oil theft and vandalism.

Debo Adeniran, Chairman centre for anti-corruption and open leadership, CACOL) reacting to the award of pipeline contract to the former Niger Delta militant on This Morning, Thursday with Yori Folarin said he believes the difference is coming out, even with the recent revelation by Tompolo’s firm and his workers.

He stated that Tompolo’s intervention has become a rescue mission as the ministries charged with the responsibility of overseeing the protection of these pipelines, NNPC, DPR, Ministry of petroleum resources could not carry out the mission effectively.

Obaro Ughadhe, an oilfield expert, continued by stating that the problem of oil theft did not just arise today but has existed since at least the 1950s.

“Before 2011, how many of you heard about Tompolo?

He noted that pipeline security has always been part a key principle factor in oil production.

According to him, what has happened these past weeks can be referred to as image laundering.

Mr Adeniran said for so long there have been confusion in the way pipelines were protected. A lot of allegations have been flying around that even the security agencies that are supposed to protect the pipelines are complicit in the oil theft that has been going on.

He added that why the act could be perceived as image laundering was because, the NNPC group MD, Mele Kyari had said it was an expert job that tapped into all of these major pipelines.

Reacting to the issue, Mr Ughadhe stated categorically that Nigeria produces over 3million barrels of crude oil per day.

He added that the issue of oil theft in Nigeria is under reported as the country has well over 4,000 producing wells.

” If Nigeria produces 1 million barrels per day, even less now, the multinationals will be gone because it will not cover their overhead cost.

 

 

According to a report released by the Nigeria Extractive Industries Transparency Initiative (NEITI) in November, the economy suffered losses of over $38.5 billion from the threat between 2009 and 2018.

The report was the outcome of a study on oil theft carried out by the Nigeria Natural Resource Charter (NNRC).

Without doubt, and for the first time since discovery of crude oil, Nigeria has been in a situation whereby when oil prices go up significantly, globally, it does not translate into improved earnings for the country, but a deteriorating fiscal situation.

[wonderplugin_video iframe=”https://youtu.be/ymez7_JPN7Y” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The country, this year alone, appears to have lost track of the number of pipeline sabotage incidents as it has become the norm.

It was as a resulted of this that the National Petroleum Company Limited awarded a pipeline protection contract worth N48billion yearly to Ekpemupolo a.k.a Tompolo, a former Nigeri Delta militant.

The award had elicited criticism, but Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, had said the Federal Government made “the right decision,” as events over the years have shown that the decision is rather a convenient one considering how the government has been handling issues of oil theft and vandalism.

Debo Adeniran, Chairman centre for anti-corruption and open leadership, CACOL) reacting to the award of pipeline contract to the former Niger Delta militant on This Morning, Thursday with Yori Folarin said he believes the difference is coming out, even with the recent revelation by Tompolo’s firm and his workers.

He stated that Tompolo’s intervention has become a rescue mission as the ministries charged with the responsibility of overseeing the protection of these pipelines, NNPC, DPR, Ministry of petroleum resources could not carry out the mission effectively.

Obaro Ughadhe, an oilfield expert, continued by stating that the problem of oil theft did not just arise today but has existed since at least the 1950s.

“Before 2011, how many of you heard about Tompolo?

He noted that pipeline security has always been part a key principle factor in oil production.

According to him, what has happened these past weeks can be referred to as image laundering.

Mr Adeniran said for so long there have been confusion in the way pipelines were protected. A lot of allegations have been flying around that even the security agencies that are supposed to protect the pipelines are complicit in the oil theft that has been going on.

He added that why the act could be perceived as image laundering was because, the NNPC group MD, Mele Kyari had said it was an expert job that tapped into all of these major pipelines.

Reacting to the issue, Mr Ughadhe stated categorically that Nigeria produces over 3million barrels of crude oil per day.

He added that the issue of oil theft in Nigeria is under reported as the country has well over 4,000 producing wells.

” If Nigeria produces 1 million barrels per day, even less now, the multinationals will be gone because it will not cover their overhead cost.

 

 

According to a report released by the Nigeria Extractive Industries Transparency Initiative (NEITI) in November, the economy suffered losses of over $38.5 billion from the threat between 2009 and 2018.

The report was the outcome of a study on oil theft carried out by the Nigeria Natural Resource Charter (NNRC).

Without doubt, and for the first time since discovery of crude oil, Nigeria has been in a situation whereby when oil prices go up significantly, globally, it does not translate into improved earnings for the country, but a deteriorating fiscal situation.

[wonderplugin_video iframe=”https://youtu.be/ymez7_JPN7Y” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The country, this year alone, appears to have lost track of the number of pipeline sabotage incidents as it has become the norm.

It was as a resulted of this that the National Petroleum Company Limited awarded a pipeline protection contract worth N48billion yearly to Ekpemupolo a.k.a Tompolo, a former Nigeri Delta militant.

The award had elicited criticism, but Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, had said the Federal Government made “the right decision,” as events over the years have shown that the decision is rather a convenient one considering how the government has been handling issues of oil theft and vandalism.

Debo Adeniran, Chairman centre for anti-corruption and open leadership, CACOL) reacting to the award of pipeline contract to the former Niger Delta militant on This Morning, Thursday with Yori Folarin said he believes the difference is coming out, even with the recent revelation by Tompolo’s firm and his workers.

He stated that Tompolo’s intervention has become a rescue mission as the ministries charged with the responsibility of overseeing the protection of these pipelines, NNPC, DPR, Ministry of petroleum resources could not carry out the mission effectively.

Obaro Ughadhe, an oilfield expert, continued by stating that the problem of oil theft did not just arise today but has existed since at least the 1950s.

“Before 2011, how many of you heard about Tompolo?

He noted that pipeline security has always been part a key principle factor in oil production.

According to him, what has happened these past weeks can be referred to as image laundering.

Mr Adeniran said for so long there have been confusion in the way pipelines were protected. A lot of allegations have been flying around that even the security agencies that are supposed to protect the pipelines are complicit in the oil theft that has been going on.

He added that why the act could be perceived as image laundering was because, the NNPC group MD, Mele Kyari had said it was an expert job that tapped into all of these major pipelines.

Reacting to the issue, Mr Ughadhe stated categorically that Nigeria produces over 3million barrels of crude oil per day.

He added that the issue of oil theft in Nigeria is under reported as the country has well over 4,000 producing wells.

” If Nigeria produces 1 million barrels per day, even less now, the multinationals will be gone because it will not cover their overhead cost.

 

 

According to a report released by the Nigeria Extractive Industries Transparency Initiative (NEITI) in November, the economy suffered losses of over $38.5 billion from the threat between 2009 and 2018.

The report was the outcome of a study on oil theft carried out by the Nigeria Natural Resource Charter (NNRC).

Without doubt, and for the first time since discovery of crude oil, Nigeria has been in a situation whereby when oil prices go up significantly, globally, it does not translate into improved earnings for the country, but a deteriorating fiscal situation.

[wonderplugin_video iframe=”https://youtu.be/ymez7_JPN7Y” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The country, this year alone, appears to have lost track of the number of pipeline sabotage incidents as it has become the norm.

It was as a resulted of this that the National Petroleum Company Limited awarded a pipeline protection contract worth N48billion yearly to Ekpemupolo a.k.a Tompolo, a former Nigeri Delta militant.

The award had elicited criticism, but Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, had said the Federal Government made “the right decision,” as events over the years have shown that the decision is rather a convenient one considering how the government has been handling issues of oil theft and vandalism.

Debo Adeniran, Chairman centre for anti-corruption and open leadership, CACOL) reacting to the award of pipeline contract to the former Niger Delta militant on This Morning, Thursday with Yori Folarin said he believes the difference is coming out, even with the recent revelation by Tompolo’s firm and his workers.

He stated that Tompolo’s intervention has become a rescue mission as the ministries charged with the responsibility of overseeing the protection of these pipelines, NNPC, DPR, Ministry of petroleum resources could not carry out the mission effectively.

Obaro Ughadhe, an oilfield expert, continued by stating that the problem of oil theft did not just arise today but has existed since at least the 1950s.

“Before 2011, how many of you heard about Tompolo?

He noted that pipeline security has always been part a key principle factor in oil production.

According to him, what has happened these past weeks can be referred to as image laundering.

Mr Adeniran said for so long there have been confusion in the way pipelines were protected. A lot of allegations have been flying around that even the security agencies that are supposed to protect the pipelines are complicit in the oil theft that has been going on.

He added that why the act could be perceived as image laundering was because, the NNPC group MD, Mele Kyari had said it was an expert job that tapped into all of these major pipelines.

Reacting to the issue, Mr Ughadhe stated categorically that Nigeria produces over 3million barrels of crude oil per day.

He added that the issue of oil theft in Nigeria is under reported as the country has well over 4,000 producing wells.

” If Nigeria produces 1 million barrels per day, even less now, the multinationals will be gone because it will not cover their overhead cost.

 

 

According to a report released by the Nigeria Extractive Industries Transparency Initiative (NEITI) in November, the economy suffered losses of over $38.5 billion from the threat between 2009 and 2018.

The report was the outcome of a study on oil theft carried out by the Nigeria Natural Resource Charter (NNRC).

Without doubt, and for the first time since discovery of crude oil, Nigeria has been in a situation whereby when oil prices go up significantly, globally, it does not translate into improved earnings for the country, but a deteriorating fiscal situation.

[wonderplugin_video iframe=”https://youtu.be/ymez7_JPN7Y” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The country, this year alone, appears to have lost track of the number of pipeline sabotage incidents as it has become the norm.

It was as a resulted of this that the National Petroleum Company Limited awarded a pipeline protection contract worth N48billion yearly to Ekpemupolo a.k.a Tompolo, a former Nigeri Delta militant.

The award had elicited criticism, but Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, had said the Federal Government made “the right decision,” as events over the years have shown that the decision is rather a convenient one considering how the government has been handling issues of oil theft and vandalism.

Debo Adeniran, Chairman centre for anti-corruption and open leadership, CACOL) reacting to the award of pipeline contract to the former Niger Delta militant on This Morning, Thursday with Yori Folarin said he believes the difference is coming out, even with the recent revelation by Tompolo’s firm and his workers.

He stated that Tompolo’s intervention has become a rescue mission as the ministries charged with the responsibility of overseeing the protection of these pipelines, NNPC, DPR, Ministry of petroleum resources could not carry out the mission effectively.

Obaro Ughadhe, an oilfield expert, continued by stating that the problem of oil theft did not just arise today but has existed since at least the 1950s.

“Before 2011, how many of you heard about Tompolo?

He noted that pipeline security has always been part a key principle factor in oil production.

According to him, what has happened these past weeks can be referred to as image laundering.

Mr Adeniran said for so long there have been confusion in the way pipelines were protected. A lot of allegations have been flying around that even the security agencies that are supposed to protect the pipelines are complicit in the oil theft that has been going on.

He added that why the act could be perceived as image laundering was because, the NNPC group MD, Mele Kyari had said it was an expert job that tapped into all of these major pipelines.

Reacting to the issue, Mr Ughadhe stated categorically that Nigeria produces over 3million barrels of crude oil per day.

He added that the issue of oil theft in Nigeria is under reported as the country has well over 4,000 producing wells.

” If Nigeria produces 1 million barrels per day, even less now, the multinationals will be gone because it will not cover their overhead cost.

 

 

According to a report released by the Nigeria Extractive Industries Transparency Initiative (NEITI) in November, the economy suffered losses of over $38.5 billion from the threat between 2009 and 2018.

The report was the outcome of a study on oil theft carried out by the Nigeria Natural Resource Charter (NNRC).

Without doubt, and for the first time since discovery of crude oil, Nigeria has been in a situation whereby when oil prices go up significantly, globally, it does not translate into improved earnings for the country, but a deteriorating fiscal situation.

[wonderplugin_video iframe=”https://youtu.be/ymez7_JPN7Y” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The country, this year alone, appears to have lost track of the number of pipeline sabotage incidents as it has become the norm.

It was as a resulted of this that the National Petroleum Company Limited awarded a pipeline protection contract worth N48billion yearly to Ekpemupolo a.k.a Tompolo, a former Nigeri Delta militant.

The award had elicited criticism, but Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, had said the Federal Government made “the right decision,” as events over the years have shown that the decision is rather a convenient one considering how the government has been handling issues of oil theft and vandalism.

Debo Adeniran, Chairman centre for anti-corruption and open leadership, CACOL) reacting to the award of pipeline contract to the former Niger Delta militant on This Morning, Thursday with Yori Folarin said he believes the difference is coming out, even with the recent revelation by Tompolo’s firm and his workers.

He stated that Tompolo’s intervention has become a rescue mission as the ministries charged with the responsibility of overseeing the protection of these pipelines, NNPC, DPR, Ministry of petroleum resources could not carry out the mission effectively.

Obaro Ughadhe, an oilfield expert, continued by stating that the problem of oil theft did not just arise today but has existed since at least the 1950s.

“Before 2011, how many of you heard about Tompolo?

He noted that pipeline security has always been part a key principle factor in oil production.

According to him, what has happened these past weeks can be referred to as image laundering.

Mr Adeniran said for so long there have been confusion in the way pipelines were protected. A lot of allegations have been flying around that even the security agencies that are supposed to protect the pipelines are complicit in the oil theft that has been going on.

He added that why the act could be perceived as image laundering was because, the NNPC group MD, Mele Kyari had said it was an expert job that tapped into all of these major pipelines.

Reacting to the issue, Mr Ughadhe stated categorically that Nigeria produces over 3million barrels of crude oil per day.

He added that the issue of oil theft in Nigeria is under reported as the country has well over 4,000 producing wells.

” If Nigeria produces 1 million barrels per day, even less now, the multinationals will be gone because it will not cover their overhead cost.

 

 

According to a report released by the Nigeria Extractive Industries Transparency Initiative (NEITI) in November, the economy suffered losses of over $38.5 billion from the threat between 2009 and 2018.

The report was the outcome of a study on oil theft carried out by the Nigeria Natural Resource Charter (NNRC).

Without doubt, and for the first time since discovery of crude oil, Nigeria has been in a situation whereby when oil prices go up significantly, globally, it does not translate into improved earnings for the country, but a deteriorating fiscal situation.

[wonderplugin_video iframe=”https://youtu.be/ymez7_JPN7Y” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The country, this year alone, appears to have lost track of the number of pipeline sabotage incidents as it has become the norm.

It was as a resulted of this that the National Petroleum Company Limited awarded a pipeline protection contract worth N48billion yearly to Ekpemupolo a.k.a Tompolo, a former Nigeri Delta militant.

The award had elicited criticism, but Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, had said the Federal Government made “the right decision,” as events over the years have shown that the decision is rather a convenient one considering how the government has been handling issues of oil theft and vandalism.

Debo Adeniran, Chairman centre for anti-corruption and open leadership, CACOL) reacting to the award of pipeline contract to the former Niger Delta militant on This Morning, Thursday with Yori Folarin said he believes the difference is coming out, even with the recent revelation by Tompolo’s firm and his workers.

He stated that Tompolo’s intervention has become a rescue mission as the ministries charged with the responsibility of overseeing the protection of these pipelines, NNPC, DPR, Ministry of petroleum resources could not carry out the mission effectively.

Obaro Ughadhe, an oilfield expert, continued by stating that the problem of oil theft did not just arise today but has existed since at least the 1950s.

“Before 2011, how many of you heard about Tompolo?

He noted that pipeline security has always been part a key principle factor in oil production.

According to him, what has happened these past weeks can be referred to as image laundering.

Mr Adeniran said for so long there have been confusion in the way pipelines were protected. A lot of allegations have been flying around that even the security agencies that are supposed to protect the pipelines are complicit in the oil theft that has been going on.

He added that why the act could be perceived as image laundering was because, the NNPC group MD, Mele Kyari had said it was an expert job that tapped into all of these major pipelines.

Reacting to the issue, Mr Ughadhe stated categorically that Nigeria produces over 3million barrels of crude oil per day.

He added that the issue of oil theft in Nigeria is under reported as the country has well over 4,000 producing wells.

” If Nigeria produces 1 million barrels per day, even less now, the multinationals will be gone because it will not cover their overhead cost.

 

 

According to a report released by the Nigeria Extractive Industries Transparency Initiative (NEITI) in November, the economy suffered losses of over $38.5 billion from the threat between 2009 and 2018.

The report was the outcome of a study on oil theft carried out by the Nigeria Natural Resource Charter (NNRC).

Without doubt, and for the first time since discovery of crude oil, Nigeria has been in a situation whereby when oil prices go up significantly, globally, it does not translate into improved earnings for the country, but a deteriorating fiscal situation.

[wonderplugin_video iframe=”https://youtu.be/ymez7_JPN7Y” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The country, this year alone, appears to have lost track of the number of pipeline sabotage incidents as it has become the norm.

It was as a resulted of this that the National Petroleum Company Limited awarded a pipeline protection contract worth N48billion yearly to Ekpemupolo a.k.a Tompolo, a former Nigeri Delta militant.

The award had elicited criticism, but Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, had said the Federal Government made “the right decision,” as events over the years have shown that the decision is rather a convenient one considering how the government has been handling issues of oil theft and vandalism.

Debo Adeniran, Chairman centre for anti-corruption and open leadership, CACOL) reacting to the award of pipeline contract to the former Niger Delta militant on This Morning, Thursday with Yori Folarin said he believes the difference is coming out, even with the recent revelation by Tompolo’s firm and his workers.

He stated that Tompolo’s intervention has become a rescue mission as the ministries charged with the responsibility of overseeing the protection of these pipelines, NNPC, DPR, Ministry of petroleum resources could not carry out the mission effectively.

Obaro Ughadhe, an oilfield expert, continued by stating that the problem of oil theft did not just arise today but has existed since at least the 1950s.

“Before 2011, how many of you heard about Tompolo?

He noted that pipeline security has always been part a key principle factor in oil production.

According to him, what has happened these past weeks can be referred to as image laundering.

Mr Adeniran said for so long there have been confusion in the way pipelines were protected. A lot of allegations have been flying around that even the security agencies that are supposed to protect the pipelines are complicit in the oil theft that has been going on.

He added that why the act could be perceived as image laundering was because, the NNPC group MD, Mele Kyari had said it was an expert job that tapped into all of these major pipelines.

Reacting to the issue, Mr Ughadhe stated categorically that Nigeria produces over 3million barrels of crude oil per day.

He added that the issue of oil theft in Nigeria is under reported as the country has well over 4,000 producing wells.

” If Nigeria produces 1 million barrels per day, even less now, the multinationals will be gone because it will not cover their overhead cost.