NUPRC to fight oil theft, reduce cost of production | The Guardian Nigeria News

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The Nigerian Upstream Petroleum Resources Commission (NUPRC) is considering collaboration with key government agencies to fight crude oil theft in Nigeria.

On the average, Nigeria Extractive Industries Transparency Initiative (NEITI) indicated that in 2019 alone, Nigeria lost 42.25 million barrels of crude oil to theft. The product is valued at $2.77 billion.

While the country is also struggling to keep the per barrel cost of oil low, the commission, which replaced the defunct Department of Petroleum Resources, insisted that technology is being deployed to keep the production cost in check.

Speaking at the Nigerian International Energy Summit, yesterday, in Abuja, Chief Executive Officer of NUPRC, Gbenga Komolafe, said the commission is in collaboration with other relevant agencies to upgrade and deploy the technology towards curbing crude oil theft in Nigeria.

According to him, the NUPRC has taken technological advancements into consideration in its work processes, adding that…



Source: Guardian Newspaper