OIL THEFT BITES: Nigeria's Oil Production Drops By 150,000 Barrels
Following the shut down of the Trans Niger Pipeline (TNP) by Shell Petroleum Development Company, oil production in the country has dropped by 150,000 barrels of oil per day.
The Corporate Media Relations Manager, SPDC, Mr. Precious Okolobo, said in a statement on Monday that the company had deferred about 150,000 barrels of oil and 500 million standard cubic feet of gas per day as a result of oil theft.
He also said SPDC had declared force majeure on Bonny Light exports and gas supply to the Nigerian Liquefied Natural Gas company effective September 23, 2013.
This development, according to the statement, is linked to oil theft, which is denying the Federal Government of about $7bn annually.
The statement read in part, “The SPDC declared force majeure on Bonny Light exports and gas supply to the NLNG effective September 23 after it shut down the Trans Niger Pipeline for repair of new crude oil
theft leaks at Bodo West and Oloma. Some 150,000 barrels of oil and 500 million standard cubic feet of gas per day are deferred.
“SPDC is working to repair and reopen the line as soon as possible.”
The company had on September 8 reopened the TNP after it was shut for two months due to incessant theft and vandalism.
The TNP has been repeatedly targeted and closed down five times since early July due to multiple leaks from crude theft connections.
The recent opening of the crucial pipeline was said to have lifted crude oil production, which has been fluctuating between 2.1 million barrels per day (bpd) and 2.3 million bpd since the beginning of the year.
READ MORE: http://news.naij.com/48020.html
