Bunkering is a legitimate oil activity ministerial nominee says

Former Group General Manager of Crude Oil Marketing in the Nigeria National Petroleum Corporation, Goddy Jedy-Agba, speaking on the oil and gas sector on Monday said oil bunkering is a legitimate activity. Goddy Jedy-Agba who is a ministerial nominee from Cross River state said this during his screening in the Senate.

Responding to questions during his screening in the red chamber on Monday, he revealed that people held a wrong notion of what bunkering was all about.

He described ‘bunkering’ as the refueling of ships which transports crude oil on the high seas, noting that ships spent months to reach the destination, hence, bunkers were needed at that point.

“There is a wrong understanding of oil bunkering and I want to correct it here that oil bunkering is not a crime. ”

“Ships transporting crude oil abroad spends months on high seas, it is bunkering that supply fuel so it is a legitimate business and not the way it is understood to is.”

He said this will responding to Senator Matthew Uroghide on what he would do to stop ‘topping’. The nominee said: “Like bunkering, toppings are not possible at the point of loading.”

Describing toppings loading beyond the normal measurement, he said it was practically impossible because about 19 agencies monitor crude oil loading at all times.

The former General Manager said I would add revenue agency among the agencies of government if he eventually becomes the Minister of Petroleum.

He lamented the obsolete laws currently operated in the oil and gas industry, saying those laws were meant to protect the interest of foreign oil majors.

“Nigeria operates obsolete oil laws and that is creating serious problems. because we still operate OIC laws which were meant to service oil business interest of foreigners.”

“Our pipelines are as old as our refineries. Crude oil is corrosive and when pipeline becomes old it cannot withstand the pressure of oil pumping and that is why we have cases of an explosion.”

“Crude oil production is capital intensive which cost about $20 million for three or four cargoes and no Bank in Nigeria could give out that kind of loan.”

“Bunkering is not a crime, but the term has been wrongly used. Bunkering is a legitimate oil activity.”

“Topping is also wrongly used and it is not wrong to do toppings. Topping of oil is done in the presence of 19 agencies and you cannot compromise all of them.”

He urged Senators to review oil and gas laws that would assist the industry.