NIGERIA LOSES 70,000 BARRELS OF CRUDE OIL EVERY DAY ACCORDING TO MINISTER

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Nigeria loses 70,000 barrels of crude oil to thieves every day; says Timipre Sylva, Minister of State for Petroleum Resources, over the weekend during the Petroleum Training Institute, Effurun, 2022 graduation ceremony in Rivers State. He however added that the federal government is making concerted efforts to stop the threat.

Represented by Ambassador Gabriel Aduda, the minister claimed that crude oil theft has a negative influence on the country’s inflow of foreign currency. In his words “Oil theft has denied the country of an estimated 70,000 barrels of crude oil per day. The adverse effect of this is the drop in the production of crude oil and decline in the national income.”

He declared that the National Assembly and the Ministry of Petroleum will work together to ensure that the PTI Act revision received the proper attention. According to Sylva, the institute could accomplish more if the PTI Act were changed to grant it access to greater resources. He also said the ministry had given PTI instructions to research into, among other things, the commercialisation of gas and the use of indigenous resources in crude oil extraction.

The minister suggested that, in light of the swiftly evolving global technology, the institute adopt modern approaches and techniques to carry out its duties. Additionally, Sylva counseled the institute to maintain communication with pertinent parastatals as well as domestic and foreign oil corporations for the ongoing improvement of pertinent training curriculum.

The graduates were congratulated by Sylva, who informed them that there were job prospects in the oil and gas sector. “The skills you acquired will be pivotal in actualising the ever-evolving goals in the oil and gas industry. I am saying this confidently because the world still relies largely on hydrocarbons.”

Prior to this, Dr. Henry Adimula, principal and CEO of PTI, announced that 1,156 graduates would earn degrees and certificates for the academic year 2020–2021. Out of this figure, 659 will be awarded National Diploma and 501 will be awarded Higher National Diploma, while six graduates will receive the PTI General Welding Certificates. He declared: “I am delighted to inform you that out of these number, 112 students graduated with distinction while 380 graduated with upper credits.”

Adimula claimed that PTI had distinguished itself as a Center of Excellence for human capacity development in the oil and gas industry in Nigeria and worldwide thanks to its vision and purpose, which are based on competence and capacity. He urged the National Assembly and significant players in the oil and gas industry to support the PTI Act’s modification. Reports has it that the event was to mark the 50th anniversary of the PTI.

A highlight of the event was the presentation of awards to distinguished individuals including the Ovie of Uvwie Kingdom, Dr Emmanuel Sideso Abe.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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