Chevron Nigeria Limited (CNL) a major Nigeria’s largest oil producers and investors, has announced significant progress in its operations, revealing that the company recorded zero incidents of oil theft or pipeline sabotage over the past year.
The Chairman and Managing Director of Chevron Nigeria/Mid-Africa business unit, Jim Swartz, made the disclosure during a courtesy visit to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja over the weekend.
The chairman described the development as a major milestone for the company.
“Chevron has not recorded any oil theft or attacks on our pipelines this year. This is the longest we’ve gone without oil theft,” he said. He noted that improved collaboration with industry regulators and security stakeholders contributed to the achievement.
Chevron is a member of the Oil Producers Trade Section (OPTS), a subgroup of the Lagos Chamber of Commerce and Industry. The OPTS represents about 31 oil and gas companies responsible for roughly 85 per cent of Nigeria’s total crude oil output. The group is focused on ensuring sustainable exploration and production practices that benefit the Nigerian economy.
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The announcement comes as Nigeria’s crude oil production continues to rise.
According to industry figures, the Nigerian National Petroleum Company Limited (NNPCL) and international oil companies (IOCs) have collectively increased output to 1.8 million barrels per day an improvement from previous years when production dipped to as low as 600,000 barrels per day.
The Federal Government is targeting further growth, projecting a production level of 2.06 million barrels per day in the Medium-Term Expenditure Framework (MTEF) unveiled by the Minister of Budget and National Planning, Senator Atiku Bagudu.
Responding to Chevron’s report, NUPRC Chief Executive, Gbenga Komolafe, expressed satisfaction with the progress, attributing the improved security and output levels to reforms and initiatives introduced under President Bola Tinubu’s administration.
