Africa Markets Oil & Gas

How Nigeria is losing 600,000 barrels of oil per day

Abuja, Nigeria – In what may be described as a major breakthrough, the Nigerian Government through The Chief Executive of the nation’s petroleum controlling agency, Nigeria National Petroleum Company Limited, Mele Kayari revealed that the Company has uncovered an illegal 4km pipeline connecting the forcados in Delta State to The Sea, and a Loading Port that has been operational in the last nine years.

The Chief Executive of the petroleum company made this known during his appearance before a joint senate committee on Upstream, Downstream and Gas; and decried the alarming rate oil theft has assumed in recent time.

Kyari reported that three operational facilities of forcados, bonny and brass oil terminals have been shut down due to the high rate of crude oil theft, which has led to the loss of over 600, 000 barrels per day and also warned that operations at the Trans Nembe pipeline may be shutdown due to an oil spill site in the Bori community of Rivers State.

According to the nation’s national oil company boss, the illegally operated refineries in the country in addition to the oil spill site is said to cost the country about 120,000 barrels of oil per day and that his agency is putting in measures towards curbing and clamping down on the illegal oil operations and refineries in the country with the destruction of 350 illegal refineries, 273 wooden while 374 reservoirs have been destroyed.

He also mentioned that about 1,561 metal tanks were destroyed while over 49 seized trucks were burnt among others.

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