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Oil & gas
Vandalism Responsible for Deteriorated loss of oil output – Timipre Sylva
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By EntekHub.com - Posted on
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The Minister of State Petroleum Resources, Chief Timipre Sylva has blamed pipeline vandalism, theft, and deteriorated infrastructure for the loss of revenue from oil output.
In a statement released on Monday by his Senior Advisor for Media and Communications, Horatius Egua, the minister stated that despite the difficulties, the Federal Government was committed to reversing the trend.
By increased investments and security along the main oil and gas pipelines in the Niger Delta region, Sylva claimed that the Federal Government was resolved to halt the trend.
He added that in contrast to allegations that measurement errors account for 40% of the volumes of crude oil losses, the main causes of crude oil losses were theft, pipeline vandalism, and production delays as a result of pipeline unavailability.
According to the article, he said the issue of crude oil losses is a systemic one that the government is actively addressing in an effort to develop long-term remedies.
Thus, Sylva advised the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to cooperate amicably.
He claimed that doing so would guarantee that the limitations and difficulties in the optimal crude oil production volume were swiftly resolved to increase national revenue.
He contends that, particularly during this crucial time of low revenue for the country, the Federal Government cannot continue to lose money due to alleged failures in crude oil output.
The minister stated that now was not the time to reflect on previous errors or play pointless blame games, but rather to work to plug all leaks so that the government could reap the most rewards from its crude oil and gas holdings.
Sylva expressed her happiness with the increased security along the region’s main oil pipelines but urged continued work from all parties involved to preserve maximum crude oil production.
Source: Allnews Nigeria