logo-profile

OTICE

.COM

.NG


Home of Nigeria Latest News and Updated Information

Civil society groups decry loss in crude oil production, calls for metering of oil pumped

user_icon Posted by:
Tiamiyu Saheed Oluwatosin
calendar-icon Posted on: 2021-04-06 19:08:45
OIL-SCALED



Civil society organisations have condemned the huge loss in crude oil production in Nigeria and called for the metering of oil pumped to stop the loss.
In a communique issued at the end of a dialogue with host communities on the promotion of reforms in the extractive sectors, the groups, Civil Society Legislative Advocacy Centre, CISLAC and OXFAM lamented that the actual quantity of oil produced daily has remained unknown even as the country still relied on estimated values.
The group also requested that host communities get equity participation at the level of granting Oil Mining License (OML) and Oil Prospecting Licenses (OPL) to oil companies.
The communique added that host communities should also be given license to own modular refineries as beneficial owners to refine oil.
On the proposed PIB 2020, the communique suggested that the bill be thoroughly interrogated to ensure it aligns with the specific needs of Host and Impacted communities (HICs) which would guarantee access to benefits from the up, mid and downstream segments by the HICs.
It added that annual contributions by oil companies to the host community trust fund as encapsulated in the proposed PIB 2020 be at 10% and nothing less.
The group demanded that the derivation formula be provided for in the PIB 2020 to ensure fines paid by extractive companies for gas flaring are shared between the government and the host community where gas is flared.
The communique reads in part, “Oil pumped must be metered to stop the huge loss incurred daily on crude oil production, as actual quantity produced daily is not known.
Host communities could pool resources to get a license for marginal fields towards taking significant ownership of extractive resources within their jurisdictions.
“Annual contributions by oil companies to the host community trust fund as encapsulated in the proposed PIB 2020 should be 10% and no less.

DO YOU KNOW >>> 72-year-old man remanded for allegedly raping minor in Kano

READ ALSO >>> Amaechi cries out, says Nigeria heading for destruction, blames youths, civil society groups

BREAKING >>> 72-year-old man remanded for allegedly raping minor in Kano


For All Nigeria Past Questions Visit www.QUESTION.NG

Kindly share this post on different Social Media below


Tags:


COMMENTS

NOTE: User comments in this section are, as the name implies, provided by users of this website. The question.ng team is not responsible for, nor do they endorse, any of the information provided here.


NO POSTED COMMENT