Oil Theft Has ‘Significantly Reduced’ – Mele Kyai

The Nigerian National Petroleum Company Limited says cases of oil theft in the Niger Delta region have been reduced ‘significantly’.

The Group Chief Executive Officer (GCEO) of NNPC Ltd, Malam Mele Kyari made this known on Tuesday 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 NNPCLtd, tackling crude oil theft, underscored the need for collaboration to halt the crude oil theft 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 is on the table today,” he said.

Kyari, while expressing optimism that the country will have access to more crude – 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”.

Komolafe lauded PENGASSAN on its constructive roles in ensuring industrial peace and harmony, even as the industry was challenged by global and domestic factors like energy transition, climate change, paucity of financing, crude oil theft and a host of other constraints.

The CCE said remarkably, the oil and gas industry in Nigeria had contributed immensely to the economic growth of Nigeria for over five decades.