We have accurate record of crude production, DPR replies NEITI
On
Oil pipeline
The Department of Petroleum Resources (DPR) on Friday defended itself against claims by the Nigeria Extractive Industries Transparency Initiative, NEITI, that no Nigerian knows the exact volume of crude oil produced in the country especially at deep offshore field.
Mr Paul Osu, Head, Public Affairs, DPR, in a statement issued in Lagos, said every litre of crude produced in the country was adequately captured during the process of extraction.
Osu said it was the responsibility of the DPR to monitor and account for crude oil production as basis for determining government’s revenue through royalty payments by operators for sustainable development.
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The Department of Petroleum Resources (DPR) on Friday debunked claims that the exact volume of crude oil produced in the country was not known.
Mr Paul Osu, Head, Public Affairs, DPR, in a statement issued in Lagos, said every litre of crude produced in the country was adequately captured during the process of extraction.
Osu said it was the responsibility of the DPR to monitor and account for crude oil production as basis for determining government’s revenue through royalty payments by operators for sustainable development.
He said: “As a further step to boosting crude accounting process from production to export, DPR recently launched the National Production Monitoring System (NPMS).
DPR: We ve accurate record of crude production today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
By Emmanuel Addeh
The Department of Petroleum Resources (DPR) Friday pushed back on reported comments that the country’s daily crude oil production remains unknown despite over 60 years of exploratory activities.
Some reports had quoted the Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Ogbonnaya Orji, as saying that the exact amount of crude oil produced in Nigeria had remained unknown because of the absence of meters at wellheads and the lack of capacity to monitor deep offshore fields.
The NEITI boss was further quoted to have stated that his agency had in all its oil and gas audit reports recommended that meters be placed on oil wellheads to measure the volume of crude oil produced across the country, without success.
By
Thu Feb 25 2021
Nigeria is one of the globally acclaimed oil producers, priding itself mostly in the Bonny Light brand in the petroleum market governed by the Organisation of Petroleum Exporting Countries (OPEC).
The country also depends largely and to some extent, over 60 per cent of the revenue sources is from oil. The federal government only recently began to intensify efforts to diversify to a non oil-dependent economy, after being hit with the reality of COVID-19 and a protracted glut in the oil prices.
While these efforts are ongoing, the current oil revenue is being threatened, this time not by the slump in oil prices, as hope is rising with over $60 per barrel, but by crude oil theft.