#Nigeria Upstream Petroleum Regulatory Commission (NUPRC)
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EDITORIAL: Nigeria’s massive oil theft scandal and lack of enlightened self-interest
EDITORIAL: Nigeria’s massive oil theft scandal and lack of enlightened self-interest
A super oil tanker on a mission to steal Nigeria’s crude oil early in August has rekindled national interest in illegal oil bunkering, which has led to massive revenue shortages that have significantly contributed to Nigeria’s present fiscal woes. The tanker, MT HEROIC IDUN, belonging to a Norwegian firm, entered Nigerian waters and headed for the Akpo Oil Field without any document or clearance…
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#Economic and Financial Crimes Commission (EFCC#H1#lucky irabor#Mele Kyari#Nigeria National Petroleum Company Limited (NNPC)#Nigeria Upstream Petroleum Regulatory Commission (NUPRC)#nigerian navy#Nigeria’s crude oil#NNPC#super oil tanker#the Chief of Defence Staff#Timipre Sylva
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10 things you need to know Friday morning
Good morning! Here is today’s summary from Nigerian Newspapers:
1. President Bola Tinubu, on Thursday, emphasised the need for government at both federal and state levels to move swiftly to form a committee that would critically consider all action plans, including the possibility of implementing the state police system. The president stated this at a meeting he convened with the 36 state governors at the Presidential Villa.
2. Several people have been feared dead and many others injured after suspected herdsmen attacked Adijah community in Ugbokpo, Apa local government area of Benue state. The incident, which reportedly happened on Thursday afternoon, has caused residents to flee to neighbouring villages.
3. The caretaker chairman of the All Progressives Congress, APC, Rivers State chapter, Chief Tony Okocha has urged Governor Siminalaye Fubara to stop running the state without a budget. Okocha also advised the governor to obey the peace agreement brokered by President Bola Tinubu by re-presenting the state budget before the State House of Assembly.
4. The National Universities Commission, NUC, has said due to the huge gap in demand and supply of university education in Nigeria, the Commission will continue to give approval for the establishment of more varsities. Acting Executive Secretary of NUC, Chris Maiyaki, disclosed this on Thursday evening during an interactive session with journalists in Abuja.
5. The Federal Government in collaboration with state governors have agreed to set up a committee to tackle the issue of hoarding farm produce in the country. Minister of Information and National Orientation, Mohammed Idris, disclosed this after the meeting President Bola Tinubu held with governors and heads of security agencies.
6. Renowned business Mogul, Aminu Dantata, has said the parliamentary system of leadership being advocated by some legislators is the best for the country. Dantata said this when some members of the House of Representatives led by the minority leader, Kingsley Chinda, paid him an advocacy visit at his residence in Kano on Thursday.
7. The National Bureau of Statistics, NBS, says the headline inflation rate increased year-on-year by 0.98 percentage points to 29.9 per cent in January 2024 from 28.92 per cent in December 2023. The Bureau disclosed this in its Consumer Price Index, CPI, report for January 2024, noting that food inflation also increased to 35.41 per cent during the period from 33.93 per cent in December 2023.
8. Ogun State Commissioner of Police, Abiodun Alamutu, on Thursday, paraded two herbalists, Moses Abidemi and Oluwo Samuel Monday, as well as two alleged priests of Cherubim and Seraphim Church, Prophet Peter Oluwalolese and Prophet Jamiu Yusuf, over the killing of one Sulaimon Adijat, aged 35, for money ritual. Also arrested and paraded for the act were Akinwunmi Ifatosin, Sheriff Agbai and Osojieahen Alioneitouria, who are both from Uromi in Esan West Local Government Area of Edo State.
9. The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, on Thursday said it is exploring the possibility of transferring some of its units to Lagos. This is coming weeks after the controversial relocation of the Federal Airports Authority of Nigeria, FAAN, and departments of the Central Bank of Nigeria, CBN, to the city.
10. President Bola Tinubu on Thursday approved the reconstitution of the executive management teams of two parastatals under the Federal Ministry of Housing and Urban Development. According to a statement on Thursday by Tinubu’s spokesman, Ajuri Ngelale, the parastatals involved are Federal Mortgage Bank of Nigeria, FMBN, and the Federal Housing Authority, FHA.
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Tinubu Orders Speedy Resolution of $1.3 Billion OML 245 Oil Block Dispute
President Bola Tinubu has instructed key government officials to expedite the resolution of court cases surrounding the contentious $1.3 billion deep-water OML 245 oil block situated in the Niger Delta region.
The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, along with the Attorney-General of the Federation, Lateef Fagbemi (SAN), and several government agencies, including the Economic and Financial Crimes Commission (EFCC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Company Limited (NNPCL), have been tasked with clearing the legal hurdles.
https://www.youtube.com/watch?v=jkew15vZmoM
Sen. Lokpobiri explains the OML 245 Case
Sen. Lokpobiri disclosed on Wednesday in Abuja that negotiations were underway among the involved parties to bring an end to the 28-year crisis and litigations surrounding the highly lucrative OML 245 oil block by next month.
History of the OML 245 Dispute
Dan Etete
The saga dates back to 1998 when Malabu Oil and Gas, linked to former Nigerian Minister of Petroleum Dan Etete, acquired the oil block for $2 million. Subsequent legal battles ensued, including the 2001 revocation of Malabu's license by the Federal Government due to questionable practices.
In 2006, an out-of-court settlement was reached between Malabu and the Nigerian government during President Umaru Yar'Adua's administration.
In 2011, Shell and Eni reportedly acquired the block for $1.3 billion, sparking allegations of corruption and bribery.
Transparency International and other anti-corruption groups raised concerns, leading to litigations involving Nigeria versus Eni and Shell.
Under former President Muhammadu Buhari, the Nigerian government pursued legal action against the companies and Malabu.
Sen. Lokpobiri explained the challenges faced by the government in various international courts, citing a penalty of over 70 million pounds imposed by JP Morgan. He emphasized the economic potential of the idle OML 245 block and highlighted ongoing efforts to negotiate a resolution with Eni and Shell.
The minister underscored the importance of resolving the prolonged issue, considering its impact on the economy and the financial burden imposed by legal penalties.
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Kaduna refinery will begin Operations in 2024 – FG
Kaduna refinery will begin Operations in 2024. The Federal Government declared on Saturday that the Kaduna Refinery and Petrochemicals Company Limited will resume operations by the end of 2024. Senator Heineken Lokpobiri, the minister of state for petroleum resources (oil), revealed this information while evaluating the status of work on the ongoing quick-fix project of the Kaduna refinery during an inspection tour of the facility and petrochemicals. Given the "significant level of progress" he saw during the tour, Lokpobiri expressed confidence that the refinery will be re-streamed by the end of 2024 in a statement released by the Nigerian National Petroleum Company Limited on X (previously Twitter). The minister said he would continue to hold key players involved in the rehabilitation process of the nation’s refineries accountable and pledged the Federal Government’s support in ensuring the timely delivery of the project. In order to ensure the country's economic growth and energy security—two factors that are critical to sustainable development—he said it was imperative to restart the refinery.
The minister was informed by Mele Kyari, Group Chief Executive Officer of NNPC Ltd., that the fuel plant at the refinery will be delivered by the end of 2024. All hands were on deck to restart the refinery, according to Kyari, who emphasized that the contractor had already mobilized to the location and that the necessary equipment was on hand for the urgent repairs. "We have great confidence in our ability to secure the necessary funding to see this through to completion and, in the end, resume providing value to Nigerians." Our objective is to quickly restore the plant to produce 60,000 barrels per day so that we can start making money from it and continue to expand the refinery to reach its full potential. "In order to have a dependable pipeline delivery infrastructure, this will also align with the completion of the Build, Operate, and Transfer on the pipeline," the GCEO said. The 14th Refineries Rehabilitation Steering Committee Meeting preceded the inspection tour, and NNPC Ltd.'s Executive Vice President, Downstream, Adedapo Segun; Executive Vice President, Upstream, Oritsemeyiwa Eyesan; managing directors of the three refineries; and a host of other members of the committee. In a related development, the Federal Government, on Saturday, announced that more domestic refineries had issued a notice to commence the production of refined petroleum products.
Additionally, it declared that it was prepared to uphold the requirement for domestic crude oil supply, which would guarantee that local refiners could obtain the crude. The Nigerian Upstream Petroleum Regulatory Commission released a statement in Abuja on behalf of the government revealing this. Olaide Shonola, Head of NUPRC's Corporate Communications and Public Affairs, signed the statement. The statement said, "The NUPRC is taking all necessary steps within the prescriptions of the Petroleum Industry Act (2021) to ensure adequate and consistent supply of feedstock to operators, as more private refineries indicate readiness to commence production soon in Nigeria." It issued a warning, stating that undermining the procedure would have negative effects. With the exception of the Dangote Refinery in Lagos, which has not yet started operations, Nigeria currently has only four modular refineries that produce extremely little fuel. It stated that the preventive measures were being implemented because operators of local refineries in one of the world's major crude oil-producing nations would be sending inappropriate and disrespectful signals to the international business community if they began importing feedstock for their operations. "In an effort to guarantee that domestic refineries do not go without the crude oil supply they require to operate, Section 109 of the PIA introduced the Domestic Crude Supply Obligation to Nigeria's oil industry," the commission said.
The NUPRC declared that it would take additional necessary actions to prevent domestic refineries from receiving an insufficient supply of crude oil and that it would not think twice about enforcing the specified penalties for infractions and non-compliance with the Act's requirements. The regulator for the upstream oil sector further announced that all 52 exploration and production companies have been called to a meeting on November 1, 2023, in accordance with its mandate, which is to ensure the supply of crude oil to licensed refineries in Nigeria, as stated in Section 109 (4) of the PIA. According to the statement, the purpose of the meeting is to coordinate the execution of the domestic crude oil supply obligation, as well as the operator's reaction and compliance status. 11 of the operators have responded by October 27; the responses from the other 42 operators are still pending.
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ALSO READ: FG plans talks with looters amid the Forex Crisis
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By • Olalekan Fagbade
JUST IN; President Tinubu appoints Chief Executive Officer for energy commission
President Bola Tinubu has approved the appointment of Dr Abdullahi Mustapha to serve as the Director-General and Chief Executive Officer of the Energy Commission of Nigeria (ECN).
Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, made this known in a statement on Monday in Abuja.
He said, ” President Tinubu expects the new ECN Chief Executive to make a positive impact on his administration’s intensive push to diversify the nation’s energy sources in a synergized fashion across the government
” This is toward the ultimate aim of industrialising every part of the country with every citizen emancipated from the shackles of energy poverty.”
Mustapha had served for over a decade in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) with significant experience in the Energy and Space Technology sectors.
Mustapha most recently obtained his Doctorate degree in Mechanical Engineering with a focus on Renewable Energy, followed by a Post-Doctoral Fellowship as a Research Associate in the School of Engineering at the prestigious University of Manchester. (NAN)
#TinubuappoibtsChiefExecutiveOfficerforEnergyCommission
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BUSINESS NEWS: NUPRC, FG disagree over Mobil acquisition by Seplat
BUSINESS NEWS: NUPRC, FG disagree over Mobil acquisition by Seplat
Publish date: 2022-08-09 00:46:51 | Author: Our Reporters | Source: punchng.com
The Nigerian Upstream Petroleum Regulatory Commission on Monday night insisted that the status quo as regards the acquisition of the entire share capital of Mobil Producing Nigeria Unlimited by Seplat Energy Offshore Limited had not changed.
It specifically stated that the status quo was “the decline of assent to…
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Nigeria Lost $2.5bn in July 2022 As Oil Production Falls to 1.083m.
Nigeria Lost $2.5bn in July 2022 As Oil Production Falls to 1.083m.
On expectation that Nigeria’s current dollar crunch could subside soon has again been dashed as the country’s crude oil production remained below expectation, slumping to 1.083 million barrels per day in July.
While July’s production figure, sourced from the data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), followed the trend in the country’s abysmally low drilling…
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Oil Theft Rises to 120,000 Barrels Per Day
Oil Theft Rises to 120,000 Barrels Per Day
Oil Theft Rises to 120,000 Barrels Per Day
Oil theft in Nigeria has increased by about 17% to 120,000 barrels per day (bpd), according to Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Gbenga Komolafe, Chief Executive Officer, NUPRC, made this known at the Lagos Chamber of Commerce and Industry (LCCI) Public-Private – Dialogue on Crude Oil Theft and Artisanal Modular Refineries on…
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Nigéria : Bayelsa et NOSDRA s'affrontent sur la cause du déversement d'Aiteo
Nigéria : Bayelsa et NOSDRA s’affrontent sur la cause du déversement d’Aiteo
L’État de Bayelsa s’est prononcé contre une analyse de la marée noire d’Aiteo E&P qui dégage l’entreprise de toute culpabilité.
L’Agence nationale de détection et d’intervention en cas de déversement de pétrole (NOSDRA) a rejeté la faute sur l’agence humaine. Un responsable de l’agence a déclaré qu’il n’y avait « aucun moyen que la pression du puits ait pu supprimer ces vannes. La cause la plus…
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#actualité#Africa#Afrique#Agence nationale de détection et d&039;intervention en cas de déversement de pétrole (NOSDRA)#Aiteo E&P#gaz#Informations#Nigeria Upstream Petroleum Regulatory Commission (NUPRC)#or noir#pétrole#Web
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Nigeria’s Oil Production Drops To New Low, As Price Averages $117.25
Nigeria’s Oil Production Drops To New Low, As Price Averages $117.25
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), in its latest data released, disclosed that oil output dropped to an average of 1.24 million barrels per day (bpd) from 1.25 million in February 2022.
According to the regulatory commission, the data released represents a 0.80 per cent decrease from the previous month, representing the lowest production capacity so far in the…
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EDITORIAL: Buhari: A Regime That Fuels Corruption
EDITORIAL: Buhari: A Regime That Fuels Corruption
Overwhelmed by challenges of governance, President Muhammadu Buhari has said that he is eager to leave office. He made the confession when governors of the ruling All Progressives Congress (APC) paid him Sallah homage in Daura, Katsina State. “It has been tough,” he quipped. The president has just 10 months for his wish to come to pass. One of the issues that have constantly gnawed at his…
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#All Progressives Congress#Danjuma Goje#Daura#Economic and Financial Crimes Commission#H1#Hon. Sergius Ogun#Katsina state#National Assembly#Nigeria Upstream Petroleum Regulatory Commission (NUPRC)#Oil Producers Trade Section#PREMIUM TIMES#President Muhammadu Buhari
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10 things you need to know Friday morning
Good morning! Here is today’s summary from Nigerian Newspapers:
1. President Bola Tinubu, on Thursday, emphasised the need for government at both federal and state levels to move swiftly to form a committee that would critically consider all action plans, including the possibility of implementing the state police system. The president stated this at a meeting he convened with the 36 state governors at the Presidential Villa.
2. Several people have been feared dead and many others injured after suspected herdsmen attacked Adijah community in Ugbokpo, Apa local government area of Benue state. The incident, which reportedly happened on Thursday afternoon, has caused residents to flee to neighbouring villages.
3. The caretaker chairman of the All Progressives Congress, APC, Rivers State chapter, Chief Tony Okocha has urged Governor Siminalaye Fubara to stop running the state without a budget. Okocha also advised the governor to obey the peace agreement brokered by President Bola Tinubu by re-presenting the state budget before the State House of Assembly.
4. The National Universities Commission, NUC, has said due to the huge gap in demand and supply of university education in Nigeria, the Commission will continue to give approval for the establishment of more varsities. Acting Executive Secretary of NUC, Chris Maiyaki, disclosed this on Thursday evening during an interactive session with journalists in Abuja.
5. The Federal Government in collaboration with state governors have agreed to set up a committee to tackle the issue of hoarding farm produce in the country. Minister of Information and National Orientation, Mohammed Idris, disclosed this after the meeting President Bola Tinubu held with governors and heads of security agencies.
6. Renowned business Mogul, Aminu Dantata, has said the parliamentary system of leadership being advocated by some legislators is the best for the country. Dantata said this when some members of the House of Representatives led by the minority leader, Kingsley Chinda, paid him an advocacy visit at his residence in Kano on Thursday.
7. The National Bureau of Statistics, NBS, says the headline inflation rate increased year-on-year by 0.98 percentage points to 29.9 per cent in January 2024 from 28.92 per cent in December 2023. The Bureau disclosed this in its Consumer Price Index, CPI, report for January 2024, noting that food inflation also increased to 35.41 per cent during the period from 33.93 per cent in December 2023.
8. Ogun State Commissioner of Police, Abiodun Alamutu, on Thursday, paraded two herbalists, Moses Abidemi and Oluwo Samuel Monday, as well as two alleged priests of Cherubim and Seraphim Church, Prophet Peter Oluwalolese and Prophet Jamiu Yusuf, over the killing of one Sulaimon Adijat, aged 35, for money ritual. Also arrested and paraded for the act were Akinwunmi Ifatosin, Sheriff Agbai and Osojieahen Alioneitouria, who are both from Uromi in Esan West Local Government Area of Edo State.
9. The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, on Thursday said it is exploring the possibility of transferring some of its units to Lagos. This is coming weeks after the controversial relocation of the Federal Airports Authority of Nigeria, FAAN, and departments of the Central Bank of Nigeria, CBN, to the city.
10. President Bola Tinubu on Thursday approved the reconstitution of the executive management teams of two parastatals under the Federal Ministry of Housing and Urban Development. According to a statement on Thursday by Tinubu’s spokesman, Ajuri Ngelale, the parastatals involved are Federal Mortgage Bank of Nigeria, FMBN, and the Federal Housing Authority, FHA.
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Tinubu Orders Speedy Resolution of $1.3 Billion OML 245 Oil Block Dispute
President Bola Tinubu has instructed key government officials to expedite the resolution of court cases surrounding the contentious $1.3 billion deep-water OML 245 oil block situated in the Niger Delta region.
The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, along with the Attorney-General of the Federation, Lateef Fagbemi (SAN), and several government agencies, including the Economic and Financial Crimes Commission (EFCC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Company Limited (NNPCL), have been tasked with clearing the legal hurdles.
https://www.youtube.com/watch?v=jkew15vZmoM
Sen. Lokpobiri explains the OML 245 Case
Sen. Lokpobiri disclosed on Wednesday in Abuja that negotiations were underway among the involved parties to bring an end to the 28-year crisis and litigations surrounding the highly lucrative OML 245 oil block by next month.
History of the OML 245 Dispute
Dan Etete
The saga dates back to 1998 when Malabu Oil and Gas, linked to former Nigerian Minister of Petroleum Dan Etete, acquired the oil block for $2 million. Subsequent legal battles ensued, including the 2001 revocation of Malabu's license by the Federal Government due to questionable practices.
In 2006, an out-of-court settlement was reached between Malabu and the Nigerian government during President Umaru Yar'Adua's administration.
In 2011, Shell and Eni reportedly acquired the block for $1.3 billion, sparking allegations of corruption and bribery.
Transparency International and other anti-corruption groups raised concerns, leading to litigations involving Nigeria versus Eni and Shell.
Under former President Muhammadu Buhari, the Nigerian government pursued legal action against the companies and Malabu.
Sen. Lokpobiri explained the challenges faced by the government in various international courts, citing a penalty of over 70 million pounds imposed by JP Morgan. He emphasized the economic potential of the idle OML 245 block and highlighted ongoing efforts to negotiate a resolution with Eni and Shell.
The minister underscored the importance of resolving the prolonged issue, considering its impact on the economy and the financial burden imposed by legal penalties.
Read the full article
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Nigeria lost $3.3bn crude oil to theft in 14 months, says NUPRC
Nigeria lost $3.3bn crude oil to theft in 14 months, says NUPRC
Nigeria lost $3.3bn crude oil to theft in 14 months, says NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that the country lost about $3.27 billion worth of crude oil to theft between January 2021 and February 2022.
This was made known by the commission during a presentation on crude oil theft at a stakeholders’ engagement with the Oil Producers Trade Section…
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PHOTO NEWS: Chairman/MD, Chevron Nigeria, Management Committee Visit Chief Executive of NUPRC, Engr. Gbenga Komolafe
PHOTO NEWS: Chairman/MD, Chevron Nigeria, Management Committee Visit Chief Executive of NUPRC, Engr. Gbenga Komolafe
Chairman/Managing Director, Chevron Companies in Nigeria, Engr. Rick Kennedy leads Management Committee on a familiarization visit to the Commission Chief Executive, Engr. Gbenga Komolafe FNSE at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Head office, Abuja recently.
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