We Can Now Tell How Much Oil Nigeria Produces – Kachikwu
The Federal Government says for the first time it can now tell the exact quantity of barrels of crude oil produced in the country and when it is produced.
The government also said it was currently working with the Economic and Financial Crimes Commission (EFCC), to track vessels lifting crude oil from the country.
Minister of State for Petroleum Resources Dr. Ibe Kachikwu made the disclosure at the ongoing Nigeria International Petroleum Summit (NIPS) in Abuja, yesterday.
Kachikwu said government, through its monitoring of the vessels, had observed irregularities in the movement of some of those mandated to lift crude oil from Nigeria.
He said the data tracking capacity would be extended to the downstream sector, to determine the volume of Premium Motor Spirit (PMS) imported into the country; the quantity of the products brought in by each vessel; the depots the commodity were stored, up to the points of retail to motorists.
“For the first time, we know what we are producing in this country. As to when it is being produced, barrel to barrel, we can tell. We can see even vessels that are coming into Nigeria and their activities.
“We have seen some vessels go to a location and pick some cargoes, leave that point, go to another point pick something else and return to the first location, when they should be heading to Port Novo or the United States,” he said.
Follow us on Twitter at @thesignalng
Copyright 2019 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant sources.