NNPC fears current crude oil production decline could cripple sector

Posted by News Express | 5 September 2016 | 1,577 times

The Nigerian National Petroleum Corporation (NNPC) has expressed concern over the nation’s declining crude oil production level, saying it will have grave consequences on the oil and gas sector.

The Group Managing Director of the NNPC, Dr. Maikanti Baru, said the decline could also have consequences on the environment and revenue.

Speaking at a one-day meeting with stakeholders in the oil and gas sector, Dr. Baru stressed that if the current situation was left unchecked, it could cripple the NNPC and the nation’s oil and gas sector.

He blamed the decline in production on activities of vandals and militants in the Niger Delta.

The NNPC boss further asked the government and security agencies to engage the various host communities to develop a partnership framework to find a lasting solution to the present unrest.

There have been several attacks on oil installations in the Niger Delta this year, as militant activities resurge.

A group that calls itself the Niger Delta Avengers has claimed responsibility for most of the attacks.

The group recently said it has agreed to a ceasefire and was ready for negotiations with the Federal Government. (Channels TV)

•Photo shows NNPC GMD Maikanti Baru.

Source: News Express