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NNPC set for oil bunkering business

By on July 18, 2014

The Nigerian National Petroleum Corporation has said very soon it will start its oil bunkering business officially.

The Group Managing Director, NNPC, Mr. Andrew Yakubu, confirmed this to newsmen at a capacity building programme organised by the Corporation for some stakeholders in the industry.

Yakubu admitted that the bunkering business, which is huge, had been neglected by the corporation over the years. This trend, he noted, would not continue as the NNPC was working seriously towards taking full advantage of the business.

He said the corporation would leverage the expertise of reputable bunkering firms in the quest to gain prominence in the business, adding that currently, it had embarked on a rigorous study of the system and the best possible ways to harness it.

The NNPC GMD said, “This is a huge business we were not taking advantage of. We need the expertise of reputable bunkering firms. We have embarked on a study of the system; and very soon, we will take advantage of it.”

According to him, the support of the Presidency and security agencies had been obtained to commence the exercise.

The Federal Government had, in January this year, allowed for the resuscitation of oil bunkering operations in the nation’s territorial waters.

Bunkering is the downstream business in the maritime sector, including fuelling of ships of all kinds in the high seas, inland water ways and within the ports.

The Director, Department of Petroleum Resources, Mr. George Osahon, who confirmed President Goodluck Jonathan’s approval for the return of bunkering operators to the nation’s territorial waters, said the resumption of bunkering operations in the country would generate revenue for the government and create employment opportunities that would buoy the economy.

Owing to illegal bunkering activities, which became rampant at a time, the Federal Government suspended bunkering operations in Nigerian territorial waters pending a review of the policy.

According to him, the resumption of bunkering services in the country will save oil, gas and marine operators the stress of going to Senegal, Cape Verde and Cote D’Ivoire to fuel vessels operating in Nigerian territorial waters.

 

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