Oil Production: Security Chiefs Meet Niger-Delta Governors In Abuja

A file photo of Delta State Governor Ifeanyi Okowa and CDS Leo Irabor
A file photo of Delta State Governor Ifeanyi Okowa and CDS Leo Irabor

 

The Chief of Defense Staff on Friday led heads of other security agencies to a meeting in Abuja with Governors of the oil-producing states.

Also in attendance at the meeting were the Inspector-General of Police, Usman Alkali Baba and the Commandant-General of the Nigeria Security and Civil Defence Corps, Dr. Ahmed Abubakar Audi.

The Governors of Delta, Akwa Ibom and Bayelsa State were present while the Deputy Governors of Edo, Imo and Ondo represented their states.

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The meeting, which was also attended by the Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, was convened to discuss threats to the country’s oil and gas sector.

In his opening remarks, the CDS told the governors that the meeting was mandated by President Buhari, owing to the the current situation in the oil and gas sector, and the need to reverse it.

According to him, the issues demand quick action as they currently affect the country’s production capacity.

The Governor of Delta State, Senator Ifeanyi Okowa noted that security issues has continued to trouble the minds of the oil producing governors.

He noted that there has been a sharp drop in oil production, which has also affected state revenues.

He expressed confidence that the meeting will help the states to collaborate with security agencies and check excesses, which include illegal oil bunkering.

What If The US Stop Buying Our Oil?

United States’ imports of Nigerian crude oil slumped to the lowest level in more than 15 years in March, according to US Energy Department data released recently.

Nigeria shipped 337,000 barrels per day (bpd) of crude to the US, as against an average of 768,000 bpd for 2011. Imports of Nigerian crude to the East Coast of the US dropped to 1.745 million barrels in March, down 44 percent from February, while shipments to the Gulf Coast rose 31 percent to 8.693 million barrels.

Analysts say the rising production from the Eagle Ford shale formation in the US state of Texas may further dampen demand for Nigeria’s crude.

In this report, Adesewa Josh examines the implication of the declining demand for Nigerian crude oil in the American market.

NNPC to double crude oil production by 2015

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) Engineer Andrew Yakubu has revealed the corporation’s plan to double the recently recorded growth in crude oil production.

The plan seeks to improve on the increase of 120,000 barrels per day (bpd) to 250,000 (bpd) by 2015.

Mr Yakubu made this known in Abuja during an introduction ceremony for the corporation’s new recruits of over 500.

The GMD recently announced that the growth in the nation’s crude oil production had risen to 2.7 million barrels per day from 2.4 Million barrels.

He stated that the participation by Nigeria in the upstream sector would improve national security and ensure that the country derive more benefits from the exploration of its oil resources.

He said that Nigeria must step up its game to match the global oil markets and become a stronger force.

Mr Yakubu also called on other sectors of the economy to contribute to the fight against unemployment by creating more job opportunities for the nation’s teeming youth population.