NUPRC to release report on crude oil pipelines metering

The Nigerian Upstream Petroleum Regulatory Commission has said work was ongoing on the metering of crude oil pipelines across the country.

The country is currently grappling with the issue of oil theft, causing substantial adverse impacts on economic growth, business opportunities, and the profit margins of oil companies.

According to the Executive Secretary, Nigeria Extractive Industries Transparency Initiative, Ogbonnaya Orji, more than N4.3tn worth of crude oil was stolen in 7,143 pipeline vandalism cases within five years.

To properly account for the country’s production and exports, the Federal Executive Council on July 18 announced the award of a $21m contract for the metering of 187 crude oil flow stations in Nigeria.

But the Defence Headquarters on Thursday, August 16, lamented that its demand for the metering of crude oil pipelines had yet to be carried out.

Speaking with our correspondent, NUPRC’s spokesperson, Olaide Shonola, stated that the agency remains committed to ensuring the metering process is fully implemented.

Shonola added that a progress report would be released soon.

Shonola said, ‘The NUPRC is working on this as we speak. As regulators, we are not relenting; the progress will be made known soon.”

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