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Business & Economy

Joint Task Force restates commitment to securing oil pipelines

The FrontierThe FrontierAugust 5, 2024 2511 Minutes read0

The Joint Task Force South-South, Operation Delta Safe (OPDS), has restated its commitment to securing the pipelines, saying Nigeria’s crude oil production has hit 1.7m barrels per day (bpd).

This information was disclosed in a statement signed by the Coordinator (OPDS) Joint Media Campaign Centre Major Kayode Owolabi.

He disclosed that following a directive from the Chief of Defence Staff General Christopher Musa, to end crude oil theft, the OPDS Commander Rear Admiral John Okeke implemented several key measures starting from July 18, 2024.

His statement revealed that the terminal factors on major pipelines—Trans Niger Pipeline (TNP), Trans Escravos Pipeline (TEP), and Trans Ramos Pipeline (TRP)—have achieved 100 percent flow, with daily crude oil output reaching approximately 1.7 million barrels per day (bpd).

This indicates that international oil companies (IOCs) are operating at full capacity, although there have been some incidents of vandalism.

Rear Admiral Okeke commended the efforts of the land, maritime, and air components, along with other security agencies, for their crucial role in these achievements, according to the statement.

However, he highlighted the need for the Nigerian National Petroleum Company Limited (NNPCL) and IOCs to increase production to meet the target of 2.2 million bpd.

The development comes at the same time President Bola Tinubu said the oil and gas industry is experiencing a resurgence.

“Our once-declining oil and gas industry is experiencing a resurgence on the back of the reforms I announced in May 2024,” Tinubu said in a nationwide broadcast on Sunday.

“Last month, we increased our oil production to 1.61 million barrels per day, and our gas assets are receiving the attention they deserve. This Major Owolabi says is a testament of an improvement in oil activities.”

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