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Friday, December 1, 2023

FG moves for transparent oil sector as Buhari gets ultimatum on fuel scarcity

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By Kingsley Jeremiah, Abuja

Federal Government, yesterday, began a move to tighten modalities guiding crude oil and gas production determination, verification and certification. Chief Executive Officer of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, at a programme organised by the organisation, said the move is in line with provisions of the Petroleum Industry Act (PIA).

According to him, it remains sacrosanct to dialogue and get the inputs of industry stakeholders on modalities and NUPRC’s requirements in production verification and certification.

The development, he noted, would enable the regulator determine the boundaries between the upstream petroleum industry and midstream petroleum operations. Represented by Deputy Director, Development and Production, Enorense Amadasun, Komolafe said the attempt would ensure accountability and end-to-end monitoring and verification of oil production, especially Floating Production Storage and Offloading (FPSO), integrated systems and gas plants.

The NUPRC boss said there was also need to address issues on requirements in the issuance of certificate of quantity at FPSO, flow stations, integrated gas plants, while addressing the use of integrated terminals and gas plants as fiscal measurement.

He stressed that the commission was concerned about business continuity and ensuring low cost of production, adding that accurate measurement and timely payment of royalties remain fundamental for revenue security to government.

Komolafe, while noting that safety, environment and health are key, pledged that NUPRC would ensure uninterrupted supply of crude oil and natural gas to domestic market.

IN a related development, civil society organisations, under the aegis of Civil Society Coalition for Economic Well-being and Good Governance, has threatened to embark on a mass protest if President Muhammadu Buhari fails to end the prevailing fuel scarcity in 78 hours.

In a communiqué issued yesterday after a one-day meeting in Abuja and signed by the Chairman and Secretary-General, Garba Danjuma Danzi and Dr. Ayodele Simon Hughes, the body lamented the difficulty faced by Nigerians over fuel crisis nationwide.

The coalition said it has appraised the ugly situation and seen failures of some chief executives of key government-owned establishments being behind this perennial national embarrassment.

Source: The Guardian

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