Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Pipeline vandalism big threat to refineries – Oniwon

    Pipeline vandalism big threat to refineries – Oniwon

    January 19, 2012
    Share
    Facebook Twitter LinkedIn WhatsApp

    18 January 2012, Sweetcrude, Abuja – The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Austin Oniwon says the incessant incidence of pipeline vandalism is a big threat to the comprehensive capacity utilization of the nation’s refineries.

    Mr. Oniwon made this known on Wednesday at the House of Representative Adhoc Committee monitoring the subsidy regime.

    The NNPC helmsman condemned economic saboteurs who engaged in the vandalism of pipelines and appealed to the National Assembly to collaborate with the corporation in curbing the heinous crime, noting that pipeline vandalism is a strong disincentive to new investments in refineries.

    “The regular incidence of pipeline vandalism across the country has hampered the efficient distribution of petroleum products. In December, 2011, we had to shut down the Port Harcourt refinery because the pipeline supplying crude to the refinery was severely vandalized,” Mr. Oniwon informed.

    The NNPC helmsman said that if the pipelines are made to work, the bridging cost of N5.80k will not be borne by Nigerians and will go a long way in revamping the Pipeline Product Marketing Company depots across the country.

    He said that the final investment decision on the three proposed Greenfield refineries in Lagos, Bayelsa and Kogi State will soon be reached, adding that this will make Nigeria self sufficient like other OPEC member countries .

    On the Turn Around Maintenance of the three traditional refineries in Port Harcourt, Warri and Kaduna, Oniwon noted that the TAM contract would be awarded to the original builders of the refineries and upon completion, the plants will achieve 90 percent capacity utilization.

    The GMD said that NNPC subsidy claim has progressively increased due mainly to the increase in price of crude in the international market adding that the corporation does not enjoy any form of discount in crude sold to it.

    On the alleged illegal deductions from the federation account by the NNPC, Mr. Oniwon disclosed that the corporation operates within the framework of the law and the Act establishing it.

    Related News

    Oil prices rally as United States sanctions on Venezuela ease supply worries

    Oil prices climb to 2-month high on US-China trade deal, worries about Iran supply

    Nigeria partners Brazil to develop methanol complex 

    Nigeria says divestment paying off as oil output rises

    E-book
    Resilience Exhibition

    Latest News

    Oil prices climb to 2-month high on US-China trade deal, worries about Iran supply

    June 11, 2025

    Kenya central bank lowers 2026 growth forecast to 5.4%

    June 11, 2025

    Nigeria partners Brazil to develop methanol complex 

    June 11, 2025

    FG to train 100,000 youths annually in forex trading

    June 11, 2025

    China, Africa ask US to return to ‘right track’ on trade differences

    June 11, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.