‘Kidnapping, Crude Oil Theft Cases Threaten 5.4m pbp Output’

Diezani Alison-Madueke

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has bemoaned the rising episodes of insecurity in the Gulf of Guinea resulting in ceaseless cases of hijacking, unauthorised vessel boarding and kidnapping in the region.

Mrs. Alison-Madueke stated this Thursday at the First Nigerian Navy Offshore Patrol Vessel Africa Conference (OPV) in Lagos, saying the spate of crude oil theft and illegal bunkering in the region have become a major source of concern to the Federal Government.

She described the situation as unacceptable, as they threatens the region’s over 5.4 million barrels per day (2012) production figure from the 15 constituent nations of the region.

According to the US Naval Intelligence Report, the region in the first half of 2013 witnessed nine hijacking incidents, in addition to 55 incidents of unauthorized vessel boarding, vessels fired upon and kidnappings this year, Alison-Madueke revealed.

The Minister, represented by the Group Managing Director of the Nigerian National Petroleum Corporation, Engr. Andrew Yakubu, emphasized that maritime security is not only essential to maintaining the flow of revenue from oil and gas, but also impacts greatly on the region’s broader economic development. He added that maritime resources such as fish, aquaculture and an intact ecosystem directly contribute to the livelihood of many Africans.

The Minister recalled also that oil supply from the Gulf of Guinea region in 2011 was equivalent to 27 percent of EU consumption and 29 per cent of total US petroleum consumption in the same year.

Allison-Madueke said Nigeria and Angola account for 47 and 34 per cent of total Gulf of Guinea oil supply respectively, following which she believes, it is extremely important that Gulf of Guinea Countries and their allies collaborate to police its sea lanes.

Disruptions in crude oil supply, she continued, not only affect countries such as Nigeria but ultimately have an impact on the global economy, calling for increased domestic efforts to address the menace.

Allison-Madueke further noted that addressing illegal crude oil bunkering is multidimensional and requires multilateralism, stressing that resurrecting the Gulf of Guinea security protocol and collaboration with Nigeria and other Gulf of Guinea countries will go a long way in addressing the maritime security issues.

August 30, 2013