The Nigerian National Petroleum Company Limited (NNPC Ltd), says the cooperation with Nigerian security has significantly reduced the scale of oil theft in the Niger Delta Region, following the discovery of several illegal pipelines.
The Group Chief Executive Officer (GCEO) NNPC Ltd, Malam Mele Kyari, made this known on Tuesday, October 18, 2022, in Abuja at the ongoing Energy and Labour Summit 2022 organised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
Kyari, in a keynote address, spoke on “Energy Transition: Positioning the Nigeria Energy Industry for the Future (Government Perspective)”.
The GCEO while speaking on a wide range of industry issues such as Energy Transition, Petroleum Industry Act 2021, a brand new NNPC Ltd, tackling crude oil theft, underscored the need for collaboration to halt crude oil theft in order to spur economic growth.
“The situation of vandals’ action on our pipelines and generality of crude oil theft has reached the point that it needs all to react. The government security and regulatory agencies, whether service or operating are on the table today,” he said.
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Kyari, while expressing optimism that the country will have access to more crude oil and revenue in the coming weeks, said the PIA passage had made the industry competitive, bringing companies back for investments, while business decisions were being made.
Also speaking, Mr Gbenga Komolafe, Commission Chief Executive (CCE), Nigerian Upstream Petroleum Regulatory Commission (NUPRC) commended PENGASSAN for organising the event which dwelt on “Energy Transition and its Effect on Workforce in the Nigerian Oil and Gas Sector.”