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Oil companies to suspend activities in Nigeria

  • SOURCE: | qwesa2big
  • Some foreign oil companies in Nigeria are to suspend some level of operations in the country due to oil theft.

    The two are Royal Dutch Shell and Italy’s ENI.

    Royal Dutch Shell plans to shut down its 150,000 barrel-a-day Nembe Creek pipeline.

    The shutdown, planned for next month will be temporary and designed to give the company time to clear away illegal connections that have drained an estimated 60,000 barrels of oil a day from the line.

    Shell said earlier this month that the volume being stolen was the highest in the last three years.

    The pipeline carries Bonny Light crude, a high-grade crude produced in the Niger river basin by Shell and Chevron Corp. and named after the Nigerian city of Bonny.

    Shell has found 90 illegal connections in its system.

    Meanwhile, Italy’s ENI is to also suspend its activities in Bayelsa state in southern Nigeria due to frequent thefts from pipelines.

    ENI said it had completely suspended all onshore activity at the Swamp Area site in Bayelsa in the night between March 21 and 22.

    The Italian oil major was producing between 35,000 and 40,000 barrels of oil equivalent per day at the site and the theft and losses due to sabotage had reached up to 60 percent of production.

    Nigeria is Africa’s biggest crude oil producer and most of the government’s revenue is based on the sector.

    Source: Citifmonline


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