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Navy Stops Theft of N2bn Petroleum Products in 12 Days

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petroleum products

By Adedapo Adesanya

The Nigerian Navy has stopped the theft of petroleum products worth almost N2 billion (precisely N1.992 billion )between June 1 and 12, 2022.

The spokesman of the agency, Mr Commodore A. Ayo-Vaughan, stated this in a press release, saying this was part of Operation Dakatar Da Barawo (OPDDB).

According to the statement, “On June 1, 2022, Nigerian Navy Ship (NNS) PATHFINDER at Rivers State conducted a swamp buggy operation in some identified IRS during which 13 refining ovens, 6 reservoirs and 2 storage tanks were destroyed. Additionally, the IRS operators had abandoned 2 gas cylinders and fled at the sight of the Navy. The gas cylinders were handled appropriately. Similarly, NNS DELTA at Warri located and deactivated an IRS within a creek around Omadino Community in Warri South LGA of Delta State. The site had 7 ovens, 8 metal storage tanks and 2 pits cumulatively laden with about 3,000 litres of suspected stolen crude oil and about 6,000 litres of suspected illegally refined AGO. The site and products were neutralized appropriately. Also, 4 pumping machines and one 40hp outboard engine was recovered from the site.

“Also, on June 2, 2022, NNS SOROH arrested 2 trucks laden with suspected illegally sourced sludge at Opolo area in Yenagoa. The trucks were enroute Koko in Delta State without valid documents and approvals. A total of 5 suspects were therefore apprehended and in custody for later hand over for prosecution.

“Similarly, on June 3, 2022, NNS PATHFINDER discovered several IRS at Bukuma in Degema Creek and Creek 6 in Rivers State. There were 6 storage tanks and 3 massive pits filled with unspecified quantity of AGO and crude oil respectively. These were all neutralized.

“Furthermore, on June 5, 2022, NNS DELTA deactivated an IRS at Tebijo in Warri South-West LGA of Delta State. The IRS had 6 ovens, 11 metal storage tanks and 2 pits cumulatively filled with about 80,000 litres of stolen crude oil and about 150,000 litres of illegally refined AGO. Also, about 3,000 litres of illegally refined AGO in stored/hauled in sacks were destroyed. Likewise, 2 pumping machines were recovered and handled appropriately.

“Meanwhile, on June 6, 2022, NNS DELTA raided an IRS around Ikantu bush in Warri South-West LGA of Delta State. During the raid, 15 storage tanks, 3 ovens and 2 pits collectively filled with about 70,000 litres of illegally refined AGO and about 250,000 litres of stolen crude oil were all destroyed. Further exploitation of the area led to the discovery of another IRS around Ekpugbene Creek in Warri South-West LGA of Delta State. The site had 2 ovens, 7 metal storage tanks and one pit all filled with about 65,000 litres of illegally refined AGO and 80,000 litres of suspected stolen crude oil. Also, 3 oxy-acetylene cylinders and one pumping machine were discovered at the site. Accordingly, the site was deactivated while the 3 gas cylinders and one pumping machine were recovered from the site. Relatedly, an IRS adjacent to the location which had 15 ovens, 8 metal storage tanks, 5 surface storage tanks and one pit collectively, containing about 360,000 litres of illegally refined AGO and 225,000 litres of stolen crude oil were destroyed accordingly.

“On June 7, 2022, NNS SOROH at Yenagoa, arrested 3 fibre boats (1 x 115hp and 2 x 75hp) and each boat operator at Ekpetiama in Amassoma Community. The boats were cumulatively laden with about 10,000 litres of illegally refined AGO. The boats and suspects were subsequently taken into custody. Similarly, NNS PATHFINDER uncovered an illegal crude oil loading point at Cawthorne Channel 2, Off new Calabar River. Several wooden boats were apparently siphoning/stealing crude oil from a well head within the vicinity. It was further discovered that the supply point serves as the major source of crude oil for the notorious ‘Market Square’.

“Accordingly, the identified illegal cooking camps and wooden ‘Cotonou’ boats were deactivated. Thereafter, the Base established a waterborne guard post at the point, while awaiting the arrival of NNPC technical experts to secure the well head to prevent further loss/theft.

“Furthermore, on June 8, 2022, NNS DELTA located an IRS around Ajigbera Creek in Warri South-West LGA of Delta State. The site had 13 metal storage tanks and 9 ovens cumulatively laden with about 60,000 litres of suspected illegally refined AGO and about 100,000 litres of suspected stolen crude oil. Accordingly, the sites were deactivated while 4 pumping machines were recovered to the Base.

“Relatedly, on June 9, 2022, NNS DELTA raided a previously deactivated IRS at Ovuleye in Warri South-West LGA of Delta State along Egwa Creek. The IRS was observed to be active and illegal refining activities had re-commenced. The IRS had 10 ovens, 8 metal storage tanks and 6 surface storage tanks collectively, laden with about 250,000 litres of illegally refined AGO and 150,000 litres of stolen crude oil. Also, 3 pumping machines were discovered at the site.

“The IRS was again, deactivated and the products were handled appropriately. On the same day, NNS PATHFINDER discovered 2 massive wooden boats at Creek 6 in Kalibiama laden with an unspecified quantity of suspected stolen crude oil. The large wooden boats and the products were handled appropriately. Additionally, 2 large pumping machines were confiscated at the scene and brought back to own location for safe custody.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Eaton Calls for Stoppage of Sulphur Hexafluoride Gas 

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Sulphur hexafluoride gas

By Adedapo Adesanya

Leading power management company, Eaton Nigeria, has advocated the regulation of sulphur hexafluoride (SF6) gas usage in electrical power distribution networks.

This call was made during the company’s Power & Water Nigeria Exhibition and Conference 2022, an event that connects the Nigerian utility industry.

The event which was organised by Vertex Global services saw the participation of experts and exhibitors from over 20 countries.

The gathering enabled global stakeholders to access engaging technical discussions, on-the-spot assessment of the region’s opportunities in power generation, distribution, renewables, and water & utility sectors; as well as exhibitions from leading local and international suppliers.

During his presentation on the topic, A Call to Action on the ‘dirtiest’ greenhouse gas in clean energy, Mr Charles Iyo, Regional Sales Manager Eaton West Africa said “Sulphur hexafluoride gas which is used in the production of most switchgears remains one of the world’s potent greenhouse gases that adversely affect the environment. 1kg of SF6 is equivalent to 23,500 Kg of CO2 in global warming potential, and each unit of switchgear is estimated to use 2.5 kg of SF6 gas; which makes it devastatingly dangerous to the climate.”

“Government in Africa, especially Nigeria needs to take proactive measures such as implementing new regulations to ban the use of SF6 Gas in switchgear production. Also, regulatory bodies and industry stakeholders need to collaborate and elevate industry practice and policies to implement the use of SF6 free technology thereby creating a safe and sustainable future,” he added.

Mr Iyo further highlighted SF6-free alternatives that could positively combat climate change, saying the adoption of vacuum technology is considered a safe, compact and reliable alternative to SF6 gas in the production of switchgears.

Eaton has been at the forefront of advocating the elimination of SF6 gas globally. The power management company pioneered SF₆ free medium voltage switchgear production in 1960 with Magnefix, a compact solution for distribution system operators.

The various range of SF6 free switchgears are produced with environmentally friendly technology in comparison with the methods used by many other suppliers, which use SF6 as insulation gas.

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OVH Energy Rewards Distributors for Outstanding Performance

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By Adedapo Adesanya

Leading supplier and distributor of refined petroleum products, OVH Energy Marketing, has rewarded its top-performing lubricant distributors for their outstanding performance at a presentation ceremony held in Lagos.

During the presentation ceremony which happened at Aspamda Market, two qualified distributors who each sold over 1 million litres of lubricants were recognized in line with the management’s commitment to award deserving distributors.

Chucorl Nigeria Limited and Ade De Young Auto Limited, who met and exceeded the set target in the distribution of OLEUM lubricants, were awarded OLEUM branded trucks at the ceremony.

Speaking at the event, the Chief Executive Officer, OVH Energy Marketing, Huub Stokman posited that the ceremony was organized to reward top-performing distributors as well as inspire others through their exemplary feats.

“Our distinctive progress as the leading downstream oil and gas company is built on the commendable dedication and support of our partners as well as the contributions of our staff. I applaud the awardees and other OLEUM distributors for their diligence and resourcefulness in making sure that the OLEUM range of lubricants remains a market leader,” he said.

“Oleum is a product made in Nigeria, by Nigerians, for Nigerians. Our dream is to formulate the best lubricant available in the Nigerian market at a very affordable price. The hard work of our partners continues to contribute immensely to the growth of the organization and for that we are thankful,” he continued.

Commenting at the presentation ceremony, Mr Lateef Adeleke, owner Ade De Young Auto Ltd., an awardee said “I appreciate the company for this initiative to reward distributors with branded trucks. Rewarding deserving distributors with the branded trucks is a thoughtful initiative from OVH Energy Marketing.”

On his part, Mr Oliver Jacob, CEO Chucorl Oil and Gas Limited said “This acknowledgement from OVH Energy Marketing is indeed an incentive to do even more. The trucks will be valuable in strengthening our supply chain and meeting our increasing consumer demand.”

In recent years, OVH Energy Marketing has embarked on diverse empowerment initiatives such as the OLEUM Academy and the Mechanic Oleum Reseller Enterprise Initiative.

OLEUM academy has impacted over 5,000 individuals nationwide through the provision of automotive mechatronics, lubrication, and entrepreneurship training.

The Mechanic Oleum Reseller Enterprise Initiative is an avenue for auto-technicians to boost their income through the sales of lubricants in their workshop.

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Capital Market Can Attract Funds to Solve Nigeria’s Infrastructure Deficiency—Yuguda

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infrastructure deficiency

By Aduragbemi Omiyale

The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has again emphasised that the current infrastructure deficiency in Nigeria can be solved with the help of the capital market.

While addressing the new executives of the Chartered Institute of Stockbrokers (CIS) in Abuja over the weekend, he said all that was needed was for the government to partner with the private sector to bridge the infrastructure gap by approaching the capital market for funding.

“We have a huge infrastructural deficit in the country like insufficient power, lack of good roads among others. We want our country to have good infrastructure and I know this is possible with the help of the capital market and other stakeholders.

“It requires adequate planning and financing and we can achieve it as a nation. The capital market through the private sector can fund road construction while the government focuses on other issues,” the SEC DG said, appealing to the relevant stakeholders to cooperate with the agency to achieve this goal.

He also said for the capital market to attain full potential, all stakeholders need to ensure they carry out their functions with integrity and fairness in a bid to restore investor confidence.

Mr Yuguda acknowledged CIS as a key partner in the commission’s regulation of the market, assuring that the SEC would continue to provide the needed support.

“On behalf of the Board and staff. We will give you all possible co-operation you desire to make your job easy. We are here to support this market and make it the market we all desire,” he said.

The SEC boss stated that derivatives trading has commenced for people who want to manage their risk, adding that the SEC is working to increase the literacy of Nigerians so they can take better decisions.

“The future for this country is bright and we have the young population to push it. We can have a much better standard of living than we have now and we hope you will continue to give a lot to the market.

“We are committed to any initiative that will further spur the growth of the capital market. We also have a review of the ISA bill pending at the National Assembly and that bill has a lot that will revitalize this market,” he added.

In his remarks, the President of CIS, Mr Oluwole Adeosun, commended the SEC for the relationship that exists between the Commission and the Institute and thanked the Management for always supporting the organisation.

“Thank you always because you have embraced the institute and made it clear that you desire a very harmonious relationship and we are happy about it.

“You have shown this in your actions since you came into office and we appreciate you for all your efforts, we pray that investors benefit greatly from their investments in the capital market. Thank you for all your support to the CIS Bill,” he said.

The former President of CIS, Mr Olatunde Amolegbe, also thanked the DG for the efforts the management has been making to support the CIS, adding that the institute has been able to function effectively due to the support of the SEC.

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