Alison-Madueke Asks International Community to Drop its Appetite For Stolen Nigerian Crude
In what would seem as a major focus in tackling the demand side of the global oil theft matrix which is a growing menace to the smooth operation of the oil and gas industry in Nigeria, Minister of Petroleum, Diezani Allison Madueke has asked the international community to drop its appetite for stolen crude oil from Nigeria and join in the fight against the nefarious activities of oil thieves and pipeline vandals.
The minister made the appeal while speaking at the presentation of the Keynote Address at the ongoing Offshore Technology Conference, OTC, in Houston, Texas.
Represented by the Group Managing Director of the NNPC, Engr. Andrew Yakubu, the Minister stated that it is imperative to halt the appetite for stolen crude oil from Nigeria if the country must make appreciable progress in this regard.
”The President is taking this matter seriously and the Honourable Minister is working at it aggressively. It takes two to tango, if those stealing our crude do not find a market for it there would be no incentive to steal, that is why we are appealing to the international community to take action. The tracing of our crude by DNA to the destination is being looked into to ensure that the finger prints of our crude are traceable to the various destinations. I can tell you that as an industry we are happy to work with government in this regard,’’ Engr. Yakubu stated while fielding questions on the sidelines of the conference.
“The natural advantages of the region’s open and unrestricted sea lanes and light sweet crude makes it one of the most important petroleum provinces in the World,” the Minister stated.
The Minister noted that as the dominant player in the sub-region Nigeria has pioneered some set of initiatives geared towards ensuring positive impact on the economy.
On the Petroleum Industry Bill, Mrs. Alison-Madueke noted that the proposed law is further designed to increase exploration and development activities in the region by creating a more competitive environment for both independent and major oil and gas companies .
“This in addition will attract investment into the sector . Therefore, West African will continue to play a significant role in the global oil and gas energy supply mix post-Shale oil and gas discoveries in the World,” she said.
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