Wednesday, 5 June 2013

Nigeria Loses $1.6 Billion to Crude Oil Theft Annually - Shell

Shell Petroleum Development Company has expressed concern over the activities of crude oil thieves and illegal refineries operators in the Niger Delta, saying that the country was losing $1.6bn annually to oil theft.
The company cited its forced shut down of the Nembe Creek Trunklines, NCTL, in Bayelsa State, a facility which produces about 150,000 barrels of crude oil per day and its declaration of force majeure on Bonny Light export.
This, according to the company, was to enable it remove crude oil theft connections, investigate suspected oil theft leaks and effect repairs.
Speaking at a workshop organised for media practitioners in Yenagoa, Shell Manager, Government/Community Relations, Evans Krukrubo, said over 90 per cent of its pipelines in the region had been ruptured by suspected oil thieves. He noted that the shutdown of NCTL production would impact negatively on Bayelsa's share from the Federation Account.

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