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Inaccurate Measurement Responsible for 40% Oil Loss- FG

Adaobi Rhema Oguejiofor

The Federal Government on Sunday said that about 40 percent of the volumes attributed to oil theft in the petroleum industry of Nigeria is actually as a result of inaccurate measurement.

Gbenga Komolafe, Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said the revelation came from a forensic audit which was conducted by NUPRC covering the period of January 2020 to November 2022 on the numbers of crude oil theft.

Speaking at the Petroleum Club Quarterly Dinner in Lagos, the NUPRC boss said that the audit was meant to accurately find out the volume of crude oil stolen within the period under review. He added that the organization was committed to tackling the issues of metering errors.

Komolafe said this would be achieved by ensuring that Original Equipment Manufacturers, who are directly licensed as agents of the commission, will be responsible for the deployment and maintenance of metering facilities all over oil and gas facilities in Nigeria as a way of ensuring transparency in the nation’s hydrocarbon accounting process.

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