NPDC loses N1.5tr to attacks on assets – NNPC GMD

THE Nigerian Petroleum Development Company (NPDC), the exploration and production subsidiary of the Nigerian National Petroleum Corporation (NNPC), was said to have lost N1.5trillion to attacks on its facilities from January till date.

The Group Managing Director of NNPC, Dr Maikanti Baru, disclosed this at the opening ceremony of the 2016 NNPC Security Awareness Week with theme, “NNPC Security: A Task for All Stakeholders.”

Baru lamented the rising spate of criminality in the society at large and in the oil and gas industry in particular, leading to loss of much needed revenue.

According to him, “At industry level, we are all conversant with the seriousness and frequency with which national assets in form of pipelines, flow stations etc. are vandalised and crude oil and white products stolen with impunity.

“In 2016 (January to date), for example, NPDC alone recorded 59 security incidents resulting in crude production shutdown/deferment and revenue loss of over N1.5 trillion.”

He urged all Nigerians to do everything possible to help protect the national assets, adding that governments at various levels were doing much to fight criminality and that success can only be achieved when all stakeholders imbibe the consciousness that security was a task for everyone.

“At corporate level, you are all aware that the first item on my 12 Focus Areas is security. This is in recognition of the imperative that without assurances of safety, NNPC, the oil and gas industry, and indeed the country cannot achieve appreciable growth to assure citizens of decent and productive lives,” he stated.

The GMD also used the opportunity to launch the Corporation’s Kidnap for Ransom Policy to raise staff awareness on the need to avoid actions that predispose them to being kidnapped, especially at a time like this when kidnapping for ransom has become very rampant.

Dr Baru charged staff to participate actively in the activities of the Security Awareness Week to imbibe ideas that could help them not only in personal security, but also in the protection of national assets.

However, it may be recalled that the Senate had announced on Tuesday that it has begun a probe into the alleged non-remittance of about $5.334billion (N2trillion) to the Federal Government treasury by the NNPC and the NPDC since 2013.

The sum, it said, included proceeds of the crude oil lifted from divested oil wells OML 61, 62 and 63 worth over $3.487billion, and another lifted by the NPDC from divested oil wells OML 65, 111 and 119 worth $1.847billion “out of which it paid $100million only.”