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Agip Records 2,418 Oil Spills

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8 years ago

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Agip Oil Company
  • Agip Records 2,418 Oil Spills

The Ministry of Petroleum Resources on Thursday said 2, 418 oil spills were recorded in Nigerian Agip Oil Company’s operations between 2010 and 2016.

The Director, Petroleum Resources in the ministry, Mr Mordecai Ladan, made this known at the public hearing on “Despoliation of the Niger Delta and Activities of Nigeria Agip Oil Company” by the House of Representatives in Abuja.

Giving details of the incidents, Ladan said 10 spills each were recorded in 2010 and 2011; 2012, 575 spills; 2014, 788 spills; 2015, 498 spills and 332 in 2016.

He said, “Most of the spills in 2012 to 2016 are attributed to sabotage due to the agitations in Niger Delta and given that the locations of most NAOC’s operational areas are on land and swamp.”

Ladan, who was represented by Dr Musa Zagi, an Assistant Director, said that the department was researching into the environmental impact of the continued discharges from various terminals.

He added that several aspects of the study had commenced.

He said, “The outcome of the study will determine the magnitude of impact on the Brass canal caused by NAOC’s operations and the appropriate remediation options to adopt.

“The department has also designed a special sanction regime for companies and facilities that persist in the prohibited discharges.

“This Progressive Discharge Deterrent Charge shall be imposed on NAOC with your approval, to serve as a deterrent to further project delays and incentivise the company towards compliance.”

Agip in a document submitted to the committee and signed by General Manager (District), Mr Paolo Carrievale, said that the pipeline where the incidents occurred was vandalised by suspected oil thieves.

He said that the suspected vandals illegally installed a valve on the pipeline for the purpose of stealing oil.

Carrievale further stated that a joint inspection visit conducted by the National Oil Spill Detection and Response Agency and the Bayelsa Ministry of Environment established that the spill on the section of the pipeline was caused by third party interference.

Speaker of the house, Mr. Yakubu Dogara, in his speech, condemned the activities of economic saboteurs in the oil producing communities across the Niger Delta.

He expressed regrets over the death of 14 people in Azuzuama community in Bayelsa as result of the spills.

The speaker, who was represented by Rep. Chukwuma Onyema, Deputy Minority Leader, reiterated Federal Government’s commitment towards promotion of citizens’ participation in law-making process and governance.

According to him, the Joint Task Force was set up by the Federal Government as a stop gap to check breakdown of law and order in the Niger Delta due to militancy.

Dogara said that illegal refineries were spill-over of the activities of militancy in the Niger Delta allegedly due to joblessness, poverty and hunger.

He added that the illegal refineries thrived on illegal oil bunkering, stolen crude oil, and vandalism of oil pipelines and other installations.

He said, “Without a doubt, these illegal oil operations are reprehensible and should not be condoned for a number of reasons.

“Firstly, it is improper for citizens to destroy oil installations in their bid to steal crude oil as feedstock for illegal refineries.

“Secondly, it is most inappropriate for anybody, Nigerians or foreigners, to steal crude oil belonging to the Nigerian State with impunity.

“Thirdly, there are serious environmental issues involved, regardless of whether they dump the residue from the crude oil distillation process into the river or simply incinerate it.”

The Chairman, Ad hoc Committee on Joint Task Force in Niger Delta, Rep. Nasiru Garo, said that as part of the activities of the committee, members conducted on-the-spot assessment of the affected Niger Delta parts between Sept. 25 and Sept. 28, 2015.

He said, “This visit afforded the committee first-hand information on the extent of environmental degradation of the Niger Delta due to activities of illegal refineries operators and oil spillages.

“The committee also visited NAOC facility to assess the integrity of their equipment as mandated.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Petrol

There Won’t Be Fuel Scarcity In Nearest Future, Major Marketers Assure Nigerians

Published

10 hours ago

on

October 31, 2024

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petrol

Nigerians have been urged to refrain from panic purchase of Premium Motor Spirit popularly known as petrol.

Major petroleum marketers made this known while assuring the public that there is more than enough petrol supply across the country.

The Chief Executive Officer of the Major Energy Marketers Association of Nigeria, Clement Isong, maintained that sufficient stock is available in the tanks of the Dangote Refinery and the Nigerian National Petroleum Company Limited.

Isong added that there is a reliable forecast of future supplies for all petroleum products.

Reacting to perceived tightening in the petroleum supply market, the major energy marketers dismissed speculation that there would be shortage of fuel, affirming to the general public and all stakeholders that there is substantial stocks of products in their tanks.

He added that they have access to considerable stocks in the tanks of their suppliers, including Dangote Refinery and NNPC Trading Limited, along with a reliable forecast of future supplies for all petroleum products.

Isong noted that deregulation enables diligent marketers to plan and secure their supply needs in advance, helping prevent shortages.

Consequently, he stated that MEMAN does not anticipate any petrol scarcity in the immediate or near future.

Encouraging Nigerians to refrain from panic buying, the MEMAN CEO assured them that member companies will continue to optimise their supply and logistics to ensure availability and affordability.

Following the NNPC’s increase in petrol prices across the country on Tuesday, long queues were observed at its retail outlets in Lagos and Abuja on Wednesday.

The national oil firm raised the retail price of petrol in Abuja from N1,030 to N1,060 per litre, while in Lagos, the price increased from N998 to N1,025 per litre, sparking widespread criticism from the Organised Private Sector, Civil Society Organisations, and the general public.

Nigerians have faced recurring fuel crises since May this year for various reasons despite government promises to resolve the situation.

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Crude Oil

Oil Prices Rise 2% on Positive Crude Inventories Data, Tight Supply Expectations

Published

18 hours ago

on

October 31, 2024

By

Crude oil gains

Oil prices rose more than 2 percent on Wednesday after data showed crude and inventories fell unexpectedly last week and reports that the Organisation of the Petroleum Exporting Countries and its allies, OPEC+ may delay a planned oil output increase.

Brent crude futures settled up $1.43, or 2.01 percent, at $72.55 a barrel and the US West Texas Intermediate (WTI) crude rose $1.4, or 2.08 percent to $68.61.

The US Energy Information Administration (EIA) reported an inventory draw of a modest half a million barrels for the week to October 25.

The change in oil stocks compared with a build of 5.5 million barrels for the previous week, pressured oil prices at the time.

The American Petroleum Institute (API), meanwhile, on Tuesday reported estimated inventory draws across crude and fuels, helping prices move higher for a time. However, they remained subdued due to expectations of a ceasefire in the Middle East.

The country’s petrol stocks shed 2.7 million barrels in the week to October 25, with production at an average of 9.7 million barrels daily. These figures compared with an inventory build of 900,000 barrels for the previous week, when production stood at an average of 10 million barrels daily.

Pressure also came as the market learned that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply.

Traders are betting that OPEC+ will hold off on the planned increase, deferring to Saudi Arabia’s top-down approach since the country acts as the de facto leader of the group and has always stepped in to help the alliance when it is underperforming.

The group is scheduled to raise output by 180,000 barrels per day in December. OPEC+ has cut output by 5.86 million barrels per day, equivalent to about 5.7 per cent of global oil demand.

OPEC Monthly Oil Market Report downgraded demand growth for 2024 to 1.9 million barrels per day while demand forecasts for 2025 slipped another 102,000 barrels per day to 1.6 million barrels per day.

China, meanwhile, ramped up imports by 16 per cent month over month in August, but the rise still falls short of August 2023 levels, keeping a lid on demand and by extension, the market.

OPEC+ is scheduled to meet on December 1 to decide its next policy steps.

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Energy

Dangote’s Allegation of Refinery Boycott By Marketers False, Says  IPMAN President

Published

1 day ago

on

October 30, 2024

By

Petrol Importation - investorsking.com

The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Garima, has expressed shock over business mogul, Aliko Dangote’s allegation that marketers were boycotting his refinery.

Dangote, the owner of a $20bn refinery had claimed that oil marketers in Nigeria have been avoiding his refinery for imported petrol.

He had lamented that such a move would impact negatively on the country’s economy and would discourage local investment.

Responding, however, IPMAN President said the allegations were false.

According to Garima, while speaking on a live telephone programme monitored by Investors King on Wednesday, IPMAN members are not importing petrol.

On the contrary, he disclosed that oil members can’t load petrol from the Dangote Refinery in Lagos despite having paid ₦40billion to the Nigerian National Petroleum Company Limited (NNPCL).

He said rather than get Dangote petrol through the NNPCL, the private refinery should register independent petrol marketers directly for smooth loading of the product.

The IPMAN boss noted that if Dangote could be able to sell the product to oil marketers directly, they can buy the product.

He expressed frustration in the fact that marketers had to pay before they pick, adding that “Presently, we have ₦40bn under the NNPCL custody but we cannot source the product.”

Garima explained how some marketers that NNPCL sent to load in Dangote refinery stayed with their trucks for four days, and they cannot load.

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