A Review of the Nigerian Energy Industry

IPMAN condemns oil theft, pipeline vandalism

Drums used for oil theft10 September 2013, Lagos – The Independent Petroleum Marketers Association of Nigeria, IPMAN, has condemned the activities of the pipeline vandals and crude oil thieves, which have been a great challenge for optimal output from the refineries.

IPMAN also commended the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke for the stability and growth in the petroleum sector.

The IPMAN National Secretary, Mr Mike Osatuyi, said this at a meeting of the association’s National Executive Committee, NEC, in Lagos.

The Association sought the full cooperation of Nigerians to bring to a halt the activities of pipeline vandals and crude oil thieves.

“Despite the challenge of pipeline vandals and oil thieves, Nigeria’s crude oil production has stabilized to between 2 to 2.4 million barrels per day under the Minister of Petroleum Resources Mrs Alison Madueke.

“IPMAN thanks President Goodluck Jonathan for bringing Mrs Alison Madueke, one of the best hands of our time who has garnered wide experience in multinational Oil & Gas to manage the Nigeria Petroleum Industry,” he added.

The Association listed some of the achievements in the sector to include, “Unbroken stability in the supply of petroleum products throughout the country in the last four months.

There is also the signing into law of the Nigerian Content Act, by President Goodluck Jonathan, as a major enabler for building indigenous capacities for the long term survival of the oil and gas industry.”

According to IPMAN, the Minister had already superintended the signing of a gas supply and purchase agreement, GSPA, between key industry operators and the Power Holding Company of Nigeria, PHCN, for the supply of gas as an incentive to guarantee adequate supply of electricity in the country.

It stated, “When one looks at these achievements by the Minister, one cannot but commend President Goodluck Jonathan for his wisdom in appointing Mrs. Alison-Madueke to the position at this time in our nation’s history.

“Electronic tracking of oil vessels has made round tripping, diversion, impossible which is a good innovation to ensure accountability, probity and conserving hard earned Nigeria foreign exchange.

– Vanguard

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