DPR generates N2.4tn for 2019, decries oil theft

The Department of Petroleum Resources has lamented the high rate of crude theft in the country.

The agency also disclosed that it generated N2.4tn to support government revenue in 2019 despite the challenge of oil theft.

It explained that theft was still being perpetrated in five out of the 28 land terminals in the country.

The DPR, however, said that the incidences of crude theft had started to reduce since “it began to barge the operations”.

The Director/Chief Executive Officer of the DPR, Sarki Auwalu, stated this when the Senate Joint Committee on Petroleum Resources embarked on oversight of the organisation’s facilities in Lagos on Friday.

A statement by the joint panel on Sunday explained that the lawmakers were led by the Chairman, Senate Committee on Petroleum Resources (Downstream), Senator Sabo Mohammed.

Awualu, according to the statement, assured the lawmakers that the DPR will continue to create opportunities for both local and foreign investors.

He pointed out that the DPR had the digital technology required to surpass its current performance.

He also said that the Department saw itself as “an opportunity agency for foreign and local investors and poised to help government actualise its goals.”

He said, “We recognise the digital age so that the data can easily be assessed for government and the people.

“We consider this visit not only as an oversight but we believe your visit will enable us do more,” he said.

The joint panel reaffirmed its commitment to ensure that the Petroleum Industry Bill would be reconsidered and passed this year.

 

Source: The Punch

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...