Oil reserves now 37 billion barrels

The Nigerian National Petroleum Corporation, NNPC, said, yesterday, that the country’s crude reserve now stood at 37 billion barrels.

Dr Maikanti Baru, NNPC bossNNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu, who disclosed this in a statement in Abuja, also said the company would continue to find sustainable solution to the challenge posed by insurgency in the oil producing Niger Delta.

Ughamadu’s statement came on a day the National Coordinator of Anti-Pipeline Vandalism and Product Adulteration, Mr. Nixon Ahanonu, told newsmen in Enugu that the depot in Enugu would soon commence operation.

“The corporation has created security management platforms that would enable it identify and evaluate risks, develop and superintend implementation of investigations.“The platform will also aggregate and deploy necessary resources to guarantee peaceful business environment in the region,” Mr. Ughamadu said.

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Quoting the NNPC Group Managing Director, Maikanti Baru, who addressed staff during an end of year message, the spokesperson said the corporation was committed to implementing a robust security system.

He said:

“The corporation is committed to implementing a robust security and stakeholders’ strategy that would ensure that peace reigned in the industry operational areas.“Dr Baru attributes the recent increase in the country’s oil and gas reserves to 37 billion barrels and 192 trillion cubic feet, respectively, to the relative peace that was instituted in the Niger Delta.”

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