Why Nigeria Loses 60,000 Barrels Daily – NNPC

The Nigerian National Petroleum Corporation (NNPC) on Wednesday, February 4, revealed that the country currently loses about 60,000 barrels of crude oil and condensate per day as a result of petroleum pipeline vandalism.

The nation’s oil regulator also said that the current crude oil production capacity loss has leaped in recent times due to upsurge in attacks on crude oil and gas pipelines, especially on the Escravos-Lagos Gas Pipeline (ELGP).

NNPC’s current crude oil production loss figures indicates a fall from its 2013 estimates which its then Group Managing Director (GMD), Andrew Yakubu, said was about 150,000 bpd.

In a statement, the corporation, through its Group Executive Director Gas and Power, David Ige, disclosed that the abrupt increase in the activities of saboteurs around the Trans-Forcados Pipeline and the Escravos-Lagos Pipeline in the last six weeks have robbed the country several billions of naira.

He said that the NNPC loses between 50,000 and 60,000 barrels of crude oil and condensate on a daily basis through pipeline breaks, which is very detrimental to the nation’s economy.

Ige however stated that the corporation was exploring a number of options on how to tackle the pipeline vandalism menace, ranging from an aggressive community engagement to installation of technological gadgets to stave off vandals.

Bizwatchnigeria

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