Nigeria Loses Four Million Barrels Of Oil From Nembe Creek Trunk Line




 

Nigeria has mislaid 4 million barrels of oil from a uneasy Nembe Creek Trunk Line in 2019.

This is a figure given by Victor Okonkwo, Managing Director of Aiteo, during a week-long discussion organized by a Nigerian Content Development Monitoring Board in Yenagoa, Bayelsa State.

The figure does not total with a 61 days of shutdown a association pronounced in a matter that it had available on a pipeline, that carries 200,000 barrels of oil daily, so distant in 2019.

Okonkwo pronounced confidence agencies had adult to a indicate of his presentation, unsuccessful to detain any of a ‘crude oil thieves’ identified and reported.

He said, “Despite a efforts in lifting NCTL uptime from 60 to over 80 per cent given acquisition, we have available some-more shutdown days in operations due to third celebration infractions for over dual months this year compared to prior years.

“This has resulted in detriment of income and deferments estimated during about 4 million barrels so distant this year.

“Also worrying is a volume of wanton detriment available even when a tube is operational, customarily in a operation of 25 to 35 per cent.

“More worrying is that even when a perpetrators of these acts are held and handed over to confidence agencies, we are nonetheless to declare any conviction.”

Speaking further, Okonkwo settled that a plea with handling a line had not stopped it from investing N3.6bn on village growth projects.

He added, “Despite all these challenges, we have kept a joining to NCDMB, profitable adult to N1.52bn in fees and N1.5bn as NDDC levies.

“In addition, Aiteo has spent over N3.6bn in village support programs and projects; offering jobs to thousands of Nigerians and intentionally led thorough appearance of inland contractors in a business operations.”

Minister of State for Petroleum Resources, Timipre Sylva, pronounced Nigeria’s resources were being depleted by a high cost of producing a tub of petroleum relations to a margins in other OPEC member-states.    

He disclosed that he would revoke a cost of prolongation in wanton oil scrutiny by 5 per cent.