Over 700,000 Barrels Of Crude Oil Are Stolen Daily – Minister Reveals

Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, has expressed concern over the growing theft of the nation’s crude oil, a development he said is taken the country backwards.

According to him, over seven hundred thousand of crude oil are being stolen by thieves daily. Naija News reports that Sylva disclosed this on Saturday while addressing a group of graduates from the Petroleum Training Institute (PTI) in Effurun, Delta State. Represented at the event by the Ministry’s Permanent Secretary, Amb. Gabriel Aduda, Sylva said the losses are overwhelming and that the federal government is doing its best to curtail the menace. While assuring the government’s commitment to curbing the event, which has impacted negatively on the nation’s foreign exchange inflow, the Minister said his ministry would synergise with the National Assembly to ensure that adequate attention was given to the amendment of the PTI Act. “Oil theft has denied the country of an estimated 700,000 barrels of crude oil per day. The adverse effect of this is the drop in crude oil production and the decline in the national income,’’ Vanguard quoted Sylva as saying. Sylva said that the institute could achieve more if the PTI Act were amended to enable the institute to have access to more funding. He said the ministry had given PTI mandates in different research areas into using local materials in crude oil production, stoppage of gas flaring, and commercialising gas, among others. He admonished the institute to embrace contemporary ways and methods to deliver on its mandates following global rapid changes in technology. The Minister also advised the institute to liaise with relevant parastatal agencies of government and local and international oil companies for the continued upgrade of relevant training curricula. Sylva congratulated the graduates and assured them of opportunities in the oil and gas industry. He said “The skills you acquired will be pivotal in actualising the ever-evolving goals in the oil and gas industry. “I am saying this confidently because the world still relies largely on hydrocarbons.” Meanwhile, the Principal and Chief Executive Officer of PTI, Dr Henry Adimula, had said earlier that 1,156 graduates would receive diplomas and certificates for the 20220/2021 academic session. He said: “Out of this figure, 659 will be awarded National Diploma and 501 will be awarded Higher National Diploma, while six graduates will receive the PTI General Welding Certificates. “I am delighted to inform you that out of these numbers, 112 students graduated with distinction while 380 graduated with upper credits.” According to him, PTI’s vision and mission, anchored on competence and capacity, had distinguished it as a Centre of Excellence for human capacity development in Nigeria’s oil and gas industry and beyond. While appealing to the National Assembly and significant stakeholders in the oil and gas sector to support the amendment of the PTI Act, Adimula said the amendment would enable the oil and gas institute to perform its duties effectively in line with the global trends. The principal said a major challenge confronting the institute was the cost of funding the training of its personnel locally and internationally “The institute’s infrastructure is presently overstretched and needs refurbishment, innovation and complete replacement of others,’’ Adimula noted. Adimula congratulated the graduates and assured them that their training had prepared them for available opportunities in the oil and gas and allied industries and renewable new and cleaner energy sources. One of the graduates, Miss Hope Oseh thanked God for completing her National Diploma programme successfully.

This article was originally published on Naija News