Monday, 24 March 2014

GEJ earmarks $1bn to checkmate oil theft, vandalism

President Goodluck Jonathan said at the weekend his administration has earmarked $1 billion to implement a comprehensive programme to check crude oil theft, the vandalism of oil and gas infrastructure, and the apprehension and prosecution of suspects.

He disclosed this at The Hague while speaking with the Prime Minister of the Netherlands, Mr. Mark Rutte and the Chief Executive Officer of Shell International, Mr. Ben van Beurden.
The President said that a technical committee has already been set up to look into all aspects of the implementation of the programme.

This, Jonathan said, will include further action to enhance the security of pipelines and other oil industry infrastructure, resolve community-related issues, boost youth empowerment in oil-producing areas and enhance the commitment of oil companies to the discharge of their corporate social responsibilities.

Jonathan said that the fresh onslaught against oil theft planned by his administration will require the maximum co-operation of the international community, especially countries like the Netherlands which are major stakeholders in the global oil industry.

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