Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Boko Haram responsible for low oil exploration in Chad basin

06 March 2014, 12:55

Abuja- Andrew Yakubu, the Group Managing Director of the NNPC, has attributed the insurgency in the North East Zone has been responsible for the slow performance in oil exploration in Chad Basin in 2013.

Yakubu made this known during the budget defence by the NNPC before the Emmanuel Paulker -led Senate Committee on Petroleum Resources (Upstream).

He, however, said that besides the Chad Basin, there were seven other basins that the NNPC was working to explore oil.

“There are seven other basins we are looking at. What we did last year was to acquire the aero magnetic data from a geological survey for Yola, Bida, Sokoto and other basins," Yakubu said.

He said the main focus now was the Chad Basin where the seismic data had been acquired and as soon as work was at a reasonable stage, focus would be turned to the other basins.

"There are about 12 to 13 phases and we are at about the sixth phase now," he said.

The NNPC boss also said that the corporation had started working on new pipeline laying technology as part of measures to address incessant cases of pipeline vandalism.

"We have actually started working on new pipeline laying technology but it is highly capital intensive. We have a few segments that have been evaluated for HDD.

"We have quite a long stretch on the Trans-Niger line and the Nembe creek so we have started but we have to balance it with the haemorrhage we have in revenue,’’ Yakubu said.

According to him, the best way to distribute petroleum products is through the pipelines network.

He added that distribution through trucks could only be resorted to when the pipelines were vandalised.

"The pipelines are the best and most effective way to distribute fuel to our over 20 depots all over the country but when they are breached then we have this kind of challenge.

"To truck a thousand trucks per day across the country is usually not the best but when we are faced with the situation, then the fall back will be to truck.

Yakubu said that the trucking out of fuel was, however, only temporary as normalcy would return as soon as the pipelines were fixed.

He further told the committee that the governing laws on vandalism were being reviewed to impose more stringent sanctions on the perpetrators.

Speaking on the recent fuel shortage being experienced in some parts of the country, the NNPC boss said that he was optimistic that by the end of Wednesday, it would be history as products were being pumped into the market.

"We have ejected quite a lot into the Lagos market. All the marketers, PPPRA and PPMC have a very strong team out there to ensure that the deliveries are made.

"Hopefully, by the end of today, we will begin to see changes in the fuel scarcity situation in Lagos," he said.

-    NAN

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...