{"id":78174,"date":"2021-02-04T03:19:17","date_gmt":"2021-02-04T02:19:17","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=78174"},"modified":"2021-02-04T03:19:17","modified_gmt":"2021-02-04T02:19:17","slug":"20billion-stolen-from-unaccounted-crude-oil-theft-between-2005-2012-says-house-of-reps-committee","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/20billion-stolen-from-unaccounted-crude-oil-theft-between-2005-2012-says-house-of-reps-committee\/","title":{"rendered":"$20billion Stolen From Unaccounted Crude Oil Theft Between 2005-2012, Says House of Reps Committee"},"content":{"rendered":"
\n
Nigeria’s House of Representatives on Wednesday expressed displeasure<\/div>\n
\n
with the failure of the Department of Petroleum Resources, DPR to
\naccount for the millions of barrels of oil allegedly missing.
\nSpecifically, the House said that a whopping volume of 329,420,319
\nbarrels valued at over $20 billion could not be accounted for by the
\nagency between 2005 and 2012.<\/p>\n

It added that the same trend of infractions was also observed between
\n2016 and 2019. Chairman of the House ad-hoc Committee on oil theft set
\nup to evaluate the unhealthy development with measures to stop it.<\/p>\n

Hon. Peter Akpatason made the disclosure while meeting with the DPR. At
\na resumed hearing, the lawmaker said that directive has also been given
\nto the DPR to give explanations on the stolen crude oil. He said, \u201cThe
\neffects of crude oil theft cannot be overemphasized, and this has lasted
\nfor too long. As patriots, it is our collective responsibility to see to
\nthe end of this stealing.<\/p>\n

The Adhoc Committee has identified the key role DPR as the agency of
\ngovernment in the sector hence your re-invitation today to enable us
\nwork together and come up with a common front on ways to tackle this
\nmatter if not completely put an end to it, reduce it to its barest
\nminimum.<\/p>\n

\u201cDPR is the agency of government saddled with the responsibility of
\nmonitoring crude oil production and lifting. The Committee requested and
\nobtained schedules of crude oil produced and lifting between 2005 to
\n2019. \u201cForensic analysis of the data revealed a very wide margin between
\nwhat was reported produced and what was lifted. Between 2005 and 2012,
\nDPR reported production of 1,746,621,167 barrels from four sampled oil
\nterminals of Egeravos, Bonny, Forcados and Bonga. Out of this production
\nvolumes, only 1,417,200,848 barrels were accounted for as having been
\nlifted officially. A whopping volume of 329,420,319 barrels, valued at
\nover $20 billion, could not be accounted for.<\/p>\n

The same trend of infractions was observed in the years 2016-2019. \u201cThe
\nCommittee through the analysis of submissions to the Committee have
\nraised issues requiring clarifications from DPR. These issues range from
\nunprocessed crude oil, suspected stolen\/diverted crude oil,
\ndiscrepancies in records, use of inappropriate devices and technologies
\nfor measurement and gauging despite huge budgetary provisions\u201d.
\nWelcoming the officials earlier, Akpatason said that the mandate of the
\ncommittee was not to witch-hunt anyone but to \u201cproffer a lasting
\nsolution to this lingering cancer bedevilling us as a nation\u201d.<\/p>\n

In his remarks, the Director\/Chief Executive Officer of DPR, Mr Sarki
\nAuwalu explained how crude oil was stolen. According to him, most of the
\nthefts usually come from land terminals because the land producers have
\nto use pipelines to transport the crude into the terminals for export.
\n\u201cI will like to use this opportunity to give a brief on how we will
\naccount for hydrocarbon in this nation. I think that will provide a
\nbetter view for this committee as well as Nigerians. The process starts
\nwell because every crude oil comes from well, and you cannot drill a
\nwell without knowing the capacity of that well to produce. So, the
\nhydrocarbon accounting in DPR starts from well. \u201cOnce you drill a well,
\nyou will need to have what we call a maximum efficiency rate to know the
\ncapacity that well will produce. The volume accounting starts from that
\npoint.<\/p>\n

\u201cIn hydrocarbon accounting, we have static measurement and we have
\ndynamic measurement. The static is the volume that went into tank that
\nyou can dip and know the volume while the dynamic is the volume that
\ngoes across the meter. We have two kinds of meters: we have production
\nmeter that you measure the volume of oil produced and we have custody
\ntransfer meter where you measure the volume of oil that exchanged hands.
\n\u201cWhat we do is to take inventory of all wells producing in every field
\nbased on the volume we give, within which that well cannot produce more
\nthan that.<\/p>\n

If you under produce, you can kill the reservoir. If you over produce,
\nyou can kill the reservoir. All these volume measurements, whether
\nstatic or dynamic, we take record of them. So, where is the problem? The
\nproblem is that we have 30 terminals in Nigeria and these terminals,
\nfive are land terminals. \u201cMost of the thefts, they are coming from land
\nterminals because the land producers have to use pipelines to transport
\nthe crude into the terminals for export. In the process, you have a lot
\nof third party interference in which those points of theft were there;
\nsmall volumes that account for the larger volume are being taken and
\nthey are being stolen. \u201cSo, most of the discrepancies in production and
\nexport, you can easily calculate the theft volume. And the theft volume,
\nif not all, come from the land terminals. But the offshore terminals, it
\nis actually practically impossible to steal crude from offshore
\nterminals, since it is from the bottom of the sea\u201d, Auwalu said.<\/p><\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Nigeria’s House of Representatives on Wednesday expressed displeasure with the failure of the Department of Petroleum Resources, DPR to account for the millions of barrels of oil allegedly missing. Specifically,…<\/p>\n","protected":false},"author":1,"featured_media":78175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-78174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n$20billion Stolen From Unaccounted Crude Oil Theft Between 2005-2012, Says House of Reps Committee - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/20billion-stolen-from-unaccounted-crude-oil-theft-between-2005-2012-says-house-of-reps-committee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$20billion Stolen From Unaccounted Crude Oil Theft Between 2005-2012, Says House of Reps Committee - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Nigeria’s House of Representatives on Wednesday expressed displeasure with the failure of the Department of Petroleum Resources, DPR to account for the millions of barrels of oil allegedly missing. 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