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Aiteo Resumption of Production Patriotic, Timely for Economic Growth- Reps Downstream Chairman

Chairman, House of Representatives Committee on Petroleum Resources, Downstream Hon. Ikenga Ugochinyere, has commended the CEO of Aiteo Oil Company, Benedict Peters, for resuming production,…

Chairman, House of Representatives Committee on Petroleum Resources, Downstream Hon. Ikenga Ugochinyere, has commended the CEO of Aiteo Oil Company, Benedict Peters, for resuming production, days after the oil firm disclosed that there had been an oil leak on its Nembe Oilfield asset in Bayelsa State.

Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the NNPC/ Aiteo Joint Venture on OML 29, Saturday said this follows the completion of the joint investigative visit to the spill site by all stakeholders as required by the regulations.

Reacting to the news, Ugochinyere in a statement said the resumption of production is patriotic and timely for economic growth of the nation.

The lawmaker said the slump in Nigeria’s monthly oil outputs which has resulted in billions of Naira revenue loss has a source of concern to the parliament.

He stated that this continued plunge in Nigeria’s oil production has severally been blamed on the incessant vandalism of oil pipelines and crude oil theft.

While commending Aiteo for the speed and professionalism in handling the leak, Ugochinyere assured of National Assembly’s commitment to addressing this issue, through legislative interventions.

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