FG cracks down on crude oil theft, approves 37 new evacuation routes to boost production

Federal Government has taken a significant step towards tackling oil theft and boosting crude oil production by creating 37 new evacuation routes for crude oil.

According to the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, the new routes will help curb theft and boost accountability.

Komolafe emphasized that the protection of assets is paramount, and the NUPRC is working closely with security agencies to ensure the safe transportation of crude oil.

“With 37 new evacuation routes approved and working closely with security agencies, we are curbing theft and boosting accountability,” he said.

The NUPRC boss also highlighted the importance of the Domestic Crude Supply Obligation, which guarantees feedstock for local refineries and strengthens domestic supply chains.

“Our drive on Domestic Crude Supply Obligation is guaranteeing feedstock for local refineries, strengthening domestic supply chains and economic resilience,” he said.

Komolafe noted that Nigeria has been undergoing a historic energy sector transformation under the leadership of President Bola Tinubu, with over $16 billion in investment commitments secured in just two years.

“The Petroleum Industry Act (PIA) of 2021 laid the foundation for this reform,” he said.

The NUPRC is working to increase crude oil production through the project one million barrels initiative, which aims to increase production from 1.46 million to 2.5 million barrels per day (bpd) by 2026. Komolafe said that the strategy is yielding results, with 1.7 million bpd already achieved.

Komolafe emphasized that the NUPRC is determined to entrench climate responsibility at the core of its operations. “While Nigeria has pledged to achieve net-zero emissions by 2060, it should be known that the NUPRC is turning that ambition into reality,” he said.

NAN