The Federal Executive Council has given the green light to a $21 million contract for the metering of 187 crude oil flow stations in the Niger Delta region. The main objective is to combat crude oil theft and improve accountability in production.

Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), disclosed this information during a briefing held in Abuja. He emphasized that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will be supervising the project, which is expected to be finalized within 180 days.

Senator Lokpobiri mentioned, “During the recent Federal Executive Council meeting, chaired by the President and Commander-in-Chief of the Armed Forces, crucial decisions were made to revamp the oil and gas sector. One of the pivotal approvals is the metering of all 187 flow stations in the Niger Delta. This initiative will ensure accurate measurement of our oil production and exports.”

Furthermore, the Council has also sanctioned a contract for advanced cargo monitoring technology, with a completion timeline of 180 days. Although the exact cost was not revealed, this technology will track crude oil shipments from their loading points to their ultimate destinations.

“The advanced cargo monitoring technology will allow us to oversee each crude oil cargo from its loading in Nigeria to its final delivery point, guaranteeing that Nigerians benefit fully from our production,” Lokpobiri elaborated. “This move is part of our broader strategy to promote transparency and accountability in the oil sector.”

The recent approvals by the Federal Executive Council signify a significant advancement towards improved supervision and efficiency in Nigeria’s oil industry.