The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has raised a team of experts to audit the activities of operators in the upstream petroleum industy in the last two years especially on crude oil loss.
The Chief Executive, Engr. Gbenga Komolafe, in the statement on Tuesday said the panel is to carry out a forensic investigation to cover the technical and commercial operations of oil companies involved in drilling and selling of crude oil.
NUPRC also said President Muhammadu Buhari had directed that all necessary mechanisms should be activated to curb oil theft in particular and immediately end other forms of economic sabotage in the oil and gas industry.
“The Commission thus considers worrisome, the crude loss figures recently being quoted in the media by some operators, given actions taken so far on the issue.
“To ascertain the veracity of these claims, the Commission has activated all the necessary mechanisms to get to the root of the matter and establish the actual volume of crude stolen as against the volumes claimed.”
NUPRC said on Monday, it activated its technical and commercial mandate to demand for the statement of financial accounts of the operators and reservoir accounts of productive oil wells for the last two years.
“This will entail both sales audit and reservoir audit to establish correlations between their technical and commercial activities vis-a-vis the monitoring and evaluation records available to regulatory agencies.”
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