₦airaland Forum

Dis na 100 true. D leader of ipob terrorist wey dey campaign for pdp.
https://www.thecable.ng/video-nnamdi-kanu-preached-one-nigeria-jonathans-administration/amp

mrvitalis:
But I thought eastern region was barren and had only palm oil ?

e be like say too much sense dey worry u. No be barreness be make businesses con invest for iboland make dem dey lose.

Dat same investment elsewhere in Nigeria dey fetch beta returns on investment yet d one in ur place dey lose and if dat no be barreness, wetin con be barreness?Shiorr

As far back as 2012, Shell don dey shout say Nigeria dey lose $5 billion annually from crude oil theft. Dat number don double and triple sef since 2012 and na dis criminals dey cause am

Even Tony Elumelu sef lament say 90% of produced crude oil are stolen by dis same criminals

Businessman and Chairman Heirs Holdings, Mr Tony Elumelu, yesterday bemoaned the fact that Nigeria was losing over 95 per cent of its oil production to thieves.

He said that there are some pipeline systems now (particularly in the East) where 80% of production injected therein does not make it to the terminal.

D 100 people burnt today na d people wey dey steal dis crude.
https://www.nairaland.com/7092380/explosion-abaezi-ohaji-egbema-illegal-bunkering

Even in death, EFCC suppose arrest dem family members because most of dem dia family sabi d criminal work dem dey do.

Work full ground brekete but dem like easy money wey go full ground and dem go use oppress oda people wey no dey do crime.

FG must get all dia names and publish to shame dem and dia families.

80% of oil production don’t make it to the terminals due to oil theft – Austin Avuru


Says the state of the Nigerian Petroleum Industry calls for a national emergency
William Ukpe by William Ukpe March 18, 2022


Austin Avuru, founding MD/CEO of Seplat Energy and Executive Chairman AA Holdings has warned that Nigeria’s oil production has reached an emergency critical status. He stated that some oil production wells don’t get to see 80% of production making it to the terminals due to oil theft.

Avuru disclosed this in a report titled “Reining in the Collapse of the Nigerian Oil industry” published by the Africa Oil + Gas report on Thursday.

He urged the NNPC and regulators to set up a “war room” strategy to deal with the rising issue of oil theft in Nigeria.


What Mr Avuru is saying
He stated that the phrase “crude theft” which crept into the industry around 2010 has taken a new meaning with the entire export pipeline networks being surrendered to vandals and illegal bunkerers.

He said that there are some pipeline systems now (particularly in the East) where 80% of production injected therein does not make it to the terminal.

He disclosed that almost every producer is now cooking up “alternative evacuation” schemes that cost four to five times what pipeline export would normally cost.


“The stark reality today is that the IOCs are leaving, their decision is outside our control as a nation, in fact, over the last twelve years, Shell and Chevron have divested from a total of 21 blocks. It is now public knowledge that shell and ExxonMobil are now exiting the onshore/shallow water altogether.

“In fact, my projection is that, by Christmas of 2025, TOTAL would be the only IOC in J.V with NNPC.

“The situation is the same with domestic gas delivery, even though we are weaving all the right slogans about the future of gas in Nigeria, in the past 5 years, I can only point at a couple of Nigerian independents who are investing in gas development and processing of the domestic market,” he said.

He added that the state of the Nigerian Petroleum Industry is a national emergency, as oil production is down to about 1.4 million BPD and declining, and this includes 600K BPD from the deep-water. Domestic production has stagnated to about 1.2 billion cubic feet per day over the past five years at a time when projected production should have been 3.5BCf per day.

“The collateral impact of course is the low level of power generation which itself has stagnated at about 4,000 MW per say since 2015,” he said.

Avuru urged that Nigeria at the current oil production level can only be imagined when oil prices return to the $60 per barrel level, highlighting that the situation has to be treated as a national emergency.

What can be done:


NNPC and upstream regulators need to set up a war room, some form of an effective task force to develop a blueprint.

A well organized transition of the IOCs driven by a clear policy direction from the retreating IOCs to a crop of efficient independents with the requisite resources will have to be implanted.

He added that just standing back and intervening by pre-emptive acquisitions cannot be a sustainable solution proffered by NNPC.

He also called for a deliberate policy-driven return to the traditional onshore/shallow water terrains as 80% of Nigeria’s remaining reserves are still in this belt.

“Nigeria needs to address the twin problems of reliable pipeline evacuation and community restiveness. These problems have been heightened, not because there is no solution, but because we have abandoned every attention to them in the last 15 years

“Nigeria needs to match its gas slogan with effective, measurable, policy actions to drive investments in domestic gas supply,” he added.

In case you missed it

Nairametrics reported yesterday that Tony Elumelu, Chairman of UBA Banking Group and Heirs Holdings stated that the reason Nigeria cannot meet its crude oil production quota and benefit from high oil prices is due to theft.
He stated that Nigeria is losing 95% of oil production to oil thieves, citing the Bonny terminal oil theft that should be receiving over 200k barrels of crude oil daily, instead it receives less than 3,000 barrels.

https://nairametrics.com/2022/03/18/80-of-oil-production-dont-make-it-to-the-terminals-due-to-oil-theft-austin-avuru/

cc mynd44 lalasticlala seun dominique

Entom:
When last did we hear good news in this country?

Good news full Lasgidi. Even today wey I tune to RadioLagos, I heard of Eko tokens wey LASG dey use dash citizens money up to 500k every week. If u no get good news for ur side, na because evil people and criminals full ur place. Abeg make u carry una badluck comot joor. All d evil una have against d country dey manifest for una yeye states

Austin Avuru and Tony Elumelu cried out few days ago that over 90% of d crude dey produce in d eastern axis are stolen. Na d thieves b dis. I hope say other thieves go learn and repent. Awon thieves! If u give dis thieves work dem no go do but to thief crude and crime dey easy for them. Make dem go yonder go continue dem oil bunkering nau.

Dia brain don reset

liftedud:
Will magnus allow this

If they can come together, I guess Cole will win


APC Rivers state needs to put their house in order

Amaechi go lose against Magnus again. na only a foolish pesin go do same tin and expect a different result. Amaechi no learn from d last time. Why Amaechi dey waste hin time and money again

PrinceOfLagos:
The truth is gradually coming out , this northerners are up to something no doubt

I pity Tinubu, Dem go chop him money clean mouth ..

Buhari didn't go through the stress of imposing Abdulahi adamu as APC chairman for no reason

Interesting times ahead

Omo Ibo, abegi face ur Daddy Atiku and make Yoruba people face dem Tinubu. Jagaban 2023 na a goal

Dem go still go back to office las las as FG won't pay dem shishi

FG jumbo pay for Senators con turn Abriba money wey pass back to FG
Dis na money laundering pro max

So Tambuwal sef na lightweight politician for north. E no sabi Saraki and Bala before. Olodo. shiorr

Jostoman:
The two of them are good

na audio

Faleke no wear cap. From Ikeja to Abuja to Kogi, d man dey try.

Jagaban 2023 na d authentic God's project for Nigeria o.

PrinceOfLagos:
Yeah, Tinubu tutored him on how to loot and use payers money for his selfish interest

You're right

Omo Igbo. U go collect loss las las

PassingShot:
I always laugh at those whom you must pay not to support you if you want to win an election masturbating at Osinbajo this Osinbajo that.
It's obvious these kids don't understand what is meant by party structures.

Las las, won a gba say Oga na master. shiorr

Jagaban 2023 na God's project for Nigeria.

O ti shi
Awon odale

PrinceOfLagos:
Only mad people will vote for Jagaban

Jagaban is not marketable

Oga fraudulent 5%ter, abeg shift. Na only for ur iboland Jagaban fit take 5% and Atiku go take 95%.

Dannyset:
Ok GEJ is the Buhari anointed candidate for this week?

bloggers dey use dem play ludo

I trust my Ib people, dem go collect am but go vote for Jagaban.

LeoDeKing:
Soludo said:
[b][/b]

Professor learning from Tinubu's boy.

All of dem dey look for d kind of annointing Jagaban get for governance and raising talents. Imagine Soludo dey bow for Fashola wey be say na Jagaban train am for public administration
Dat na why today Odale VP too dey carry shoulder against Jagaban for 2023. Dem no wan openly accept dat Jagaban be dem master but dem want to dey tap hin annointing.

Awon Odale. Shiorr

Odale

alsudan:
This man has SW on lockdown, even though the other man and his crew won’t wanna hear or accept it.

If Obi is not on the Ballot and you are, then you’ve got my vote Professor.

But if that Iragbiji Thief mistakenly finds himself on the ballot, I will rather Cut off all my fingers than vote for him.

Una go learn las las.
Odale no go see shishi votes from Oyo. As hin waka come alone na so e go take leave Ib alone. Na VP respect e go get and datsall. SW na for Jagaban 2023

Jagaban 2023 na God's project for Nigeria. Others dey do catch up while Jagaban dey consolidate

Yemi Osibanjo-odale

13 Professors pere. odale

Hahaha.....Ngige u beta save ur money o. Presidency no be for I neva chop beleful o