This is what Nigeria loses daily to Niger Delta Avengers’ bombing of oil pipelines

Oil companies in the Niger Delta are losing a total of 140,000 barrels of crude daily – translating to a loss of $6.72m (about N1.3 billion)- due to the continued attack on oil installation by Niger Delta Avengers, The Nation reports.

Nigerian Agip Oil Company (NAOC) says that it has cut its oil production down by 65,000 barrels per day following last Friday’s attack on its pipeline in Bayelsa.

Agip oil field has also been attacked severally which resulted in a
shutdown of some 5,200 barrels of the company’s equity share of oil output.

A source in the company was quoted to have said, “The total deferred production due to the attack is 65,000 barrels of oil equivalent daily. There is no further impact on production, since all production from the swamp area has already been stopped days ago.”

The spokesperson of Aiteo, the oil company that operates Nembe Creek trunkline which was attacked last week, said the line has been shutdown thus causing a deferment of 75,000 barrels daily production.

Shell Petroleum Development Company (SPDC) has declared a force majeure (a legal clause that allows a company to default on its contractual agreement).

With this continuous attack on oil installations within the country, the Nigerian government is a losing a total of N1.3 billion daily.

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