Oil
Tompolo’s Security Firm, Tantita, Intercepts Trucks With Stolen Crude Oil
Through two separate operations, Tantita Security Services which is the private security contractor engaged by the Nigerian National Petroleum Company Ltd has intercepted a Barge and Truck with consignments of stolen Crude oil.
In the first of two recent high-profile discoveries by Tantita Security Services, the Maritime Intelligence Unit of the Private Security Contractor (PSC) was tipped off on the activities of a suspected vessel on December 22, 2022.
A statement issued by the NNPC and made available to new men on Thursday stated that the security outfit mobilized and raided the location where they discovered an unpropelled barge.
The unpropelled barge was alternately loading Crude Oil and illegally refined Automotive Gas Oil (AGO) in a tight creek area from an illegal storage facility within the vicinity of Agge, a short distance from the Right of Way of the Trans Ramos Pipeline (TRP).
Upon investigation, the barge “BRIGHTON-1” was discovered to be unregistered and undocumented with the appropriate maritime authorities.
The statement said the Barge was arrested alongside a large wooden canoe used in conveying illegally refined AGO and a locally built wooden Tug powered by Caterpillar Fiat 850 Engine.
According to the statement, four suspects were also arrested on board the vessels.
The suspects are the Marine Engineer coordinating the BRIGHTON-1 loading and discharge operations, the skipper of the wooden Tugboat, a Ship Chandler providing logistics and supplies to BRIGHTON-1 and a speedboat driver that was delivering supplies to the BRIGHTON-1.
In the second discovery, an unregistered truck loaded with Crude Oil was apprehended in the early hours of December 10, 2022, discharging its illegal contents into the underground storage tanks of a fuel station belonging to Blessed Corporate Oil and Gas services Ltd, located opposite Asjam Hotel Opete, Warri.
Personnel from the Nigerian Army 3rd Battalion in Warri have secured the discovery location and the truck used for the operation.
The PSC also arrested four male suspects in connection with this discovery. Also recovered were two fuel-pumping machines being used for the operation.
It should be recalled that on May 2, 2019, the IGP Special Task Force on Pipeline Vandalization attached to the PPMC Depot Warri arrested four suspects with links to the owners of Blessed Corporate Oil and Gas services Ltd over the alleged involvement of vandalism and crude oil theft.
Investigations are in full swing, and efforts are being intensified to unravel the identity of the criminals involved in these recent discoveries.
It had been reported that crude oil production in Nigeria has increased to 1.59 million barrels per day as of the first week of December.
In August, crude oil theft forced Nigeria’s production down to 1.1 million barrels per day far below the OPEC quota for the country.
By implication, crude oil theft cut the contribution of foreign exchange earnings from crude oil export from 90 per cent when production was high to 78.5 per cent as of the third quarter of 2022.
Crude oil export as of the third quarter of 2022 was N4.65trn down by 21.15 per cent from the N5.907trn recorded in the second quarter of 2022, according to the National Bureau of Statistics ‘Foreign Trade’ report published this week.
The Chief Upstream Investment Officer of the NNPC Upstream Investment Management Services, Bala Wunti said the new security architecture is structure laid on technology.
He said, “What it does is to bring together the security and intelligence agency in one table, the regulators in the other and then bring in what was zero, the community into the other angle and without the community, we can’t achieve that.
“Today, we are able to dictate, detect and we able to respond. The success that we recorded today was essential because of this improved security situation. We are now almost at an average of 350,000 to 400,000 barrels/day increase. At a certain level we recorded up to 450,000 barrels/day increase in the given year.
That is why you can see we are now from 1.1mbpd daily to about 1.59bpd as at today this morning. So, these are some of the things that we are able to record based on the new security architecture.”
Wunti assured that with the collective resolve of private securities and government securities there would be further improvement in crude oil production which would, in turn, reflect in foreign exchange earnings.
Currently, over 68 vessels involved in crude oil theft have been arrested, while 638 illegal refineries out of 763 have been destroyed.
According to him, the security architecture has been institutionalized, adding that the NNPC engaged three contractors including Tompolo’s Tantita.
In a strategic move to revitalize Nigeria’s oil and gas sector, the Federal Government has unveiled two key fiscal incentives aimed at attracting investment and enhancing energy security.
The announcement was made by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy on Wednesday.
The first initiative, the Value Added Tax (VAT) Modification Order 2024, introduces critical exemptions for essential energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment.
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These exemptions are designed to reduce living costs for Nigerians, promote energy security, and accelerate the transition to cleaner energy alternatives.
The second initiative, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production, offers new tax relief options for deep offshore exploration projects.
This measure aims to position Nigeria’s deep offshore basin as a premier destination for international oil and gas investments, boosting the country’s appeal to foreign investors.
These reforms are part of a broader set of policy initiatives, known as Policy Directives 40-42, endorsed by President Bola Ahmed Tinubu.
The directives reflect the administration’s commitment to fostering sustainable development in the energy sector and enhancing Nigeria’s competitive edge in the global oil and gas market.
By Yemie Adeoye
NIGERIA’s President Bola Tinubu has announced that the protracted ExxonMobil-Seplat upstream oil divestment will be formally approved by the Minister of petroleum within a matter of days, just as he announced his government’s intention to expand the Compress natural Gas, CNG buses initiative.
The President who stated this during his Independence day nationwide broadcast stated that the move is in line with his administration’s commitment to free enterprise, free entry and free exit in investments which is the hallmark of his administration investment policy.
“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.”
The President also seized the opportunity to plead with Nigerians to be patient with his administration’s reform policies. “As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel”.
“Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.
Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace”. he enthused.
As part of the administration’s push to improve Ease of Doing Business (EoDB), Nigeria’s Vice President Kashim Shettima has expressed support for ExxonMobil’s plan to invest $10 billion in the country’s deep-water oil sector.
Speaking on Wednesday, September 25, 2024, during a meeting with ExxonMobil executives at the 79th United Nations General Assembly (UNGA) in New York, Shettima called the investment “a clear testament to the administration’s economic reforms and investor-friendly policies.”
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This announcement follows news that international maritime company DP World intends to develop a multibillion-dollar port project in Nigeria.
Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, shared the development in a statement on Wednesday. He quoted Shettima as saying: “ExxonMobil’s potential investment aligns with the vision of President Bola Ahmed Tinubu’s administration for a more investment-friendly Nigeria.
We are committed to fostering an environment that supports such transformative projects.”Shettima also discussed the administration’s broader efforts to improve the ease of doing business, highlighting the “Renewed Hope Agenda,” which aims to simplify bureaucratic processes, enhance transparency, and offer fiscal incentives to attract global investors.
“Our administration has taken bold steps to unify the exchange rate, remove fuel subsidies, and implement tax reforms. These measures, though challenging in the short term, are intended to create a stable and predictable business environment in the long term,” he added.
On the oil and gas sector, Shettima mentioned that the government is revising the fiscal framework for deep-water operations to attract investment while ensuring fair returns for the Nigerian people.
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