* Nigeria is under pressure to clean up oil sector
* Study shows $5 bln in potential revenue lost in 2002-2011
By Emma Farge
VIENNA, Dec 13 Nigeria, Africa's largest oil
exporter, has no plans to reform its state oil company NNPC and
the way its crude oil is sold, its oil minister said on
"The issue of changing the way we sell our oil has been
looked at by NNPC who do not feel there is a major problem with
that," Diezani Alison-Madueke told reporters after an OPEC
meeting in Vienna.
Nigeria's government has come under intense pressure to
clean up Africa's biggest energy sector after public anger over
corruption and waste of the country's oil wealth surfaced during
January protests over fuel prices.
A study published by the former head of the anti-corruption
agency Nuhu Ribadu showed that some $5 billion in potential
revenue had been lost between 2002-2011 because state oil firm
NNPC had been selling itself oil at cut-down prices.
Alison-Madueke said there were no current plans to reform
the NNPC's operations.
"We will look at the entire results of the report on balance
and ensure it is implemented according to the government white
paper," she added.
She said on Wednesday Nigeria was producing around 2.4
million to 2.5 million barrels per day and output should remain
at similar levels next year.
A major fire at a Shell facility, an Exxon
spill and severe flooding cut oil output by up to a fifth in
October and November, and caused lengthy delays to exports.
The minister said production had since recovered and should
remain at current levels.
"I expect it at least to stabilise (next year). The problems
have been flooding and bunkering and some vandalism which have
disrupted pipeline services," she said.
Alison-Madueke said Nigeria still hoped to hold a marginal
oil licensing round by early next year. This would be the first
since a bid round five years ago which failed to attract
interest from foreign oil majors.
Several targets for bid rounds set by the oil ministry have
not been met in recent years and uncertainty over an
over-reaching energy bill being debated in parliament could
deter potential investors, industry experts say.