Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Theft: Nigeria’s oil production drops by 150,000 barrels

    Theft: Nigeria’s oil production drops by 150,000 barrels

    September 24, 2013
    Share
    Facebook Twitter LinkedIn WhatsApp

    Diezani Alison-Madueke24 September 2013, Lagos – Oil production in Nigeria has dropped by 150,000 barrels of oil per day following the shut down of the Trans Niger Pipeline by Shell Petroleum Development Company.

    The Corporate Media Relations Manager, SPDC, Mr. Precious Okolobo, said in a statement on Monday that company had deferred about 150,000 barrels of oil and 500 million standard cubic feet of gas per day as a result of oil theft.

    He also said SPDC had declared force majeure on Bonny Light exports and gas supply to the Nigerian Liquefied Natural Gas company effective September 23, 2013.

    This development, according to the statement, is linked to oil theft, which is denying the Federal Government of about $7bn annually.

    The statement read in part, “The SPDC declared force majeure on Bonny Light exports and gas supply to the NLNG effective September 23 after it shut down the Trans Niger Pipeline for repair of new crude oil theft leaks at Bodo West and Oloma. Some 150,000 barrels of oil and 500 million standard cubic feet of gas per day are deferred.

    “SPDC is working to repair and reopen the line as soon as possible.”

    The company had on September 8 reopened the TNP after it was shut for two months due to incessant theft and vandalism.

    The TNP has been repeatedly targeted and closed down five times since early July due to multiple leaks from crude theft connections.

    The recent opening of the crucial pipeline was said to have lifted crude oil production, which has been fluctuating between 2.1 million barrels per day and 2.3 million bpd since the beginning of the year.

    A statement by the Acting Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation, Ms. Tumini Green, had on Monday declared that crude oil production had risen to 2.4 million barrels per day due to what she claimed were the results of the reforms introduced in the industry.

    Industrial scale oil theft, sabotage and technical problems have caused crude output to drop to less than 1.9 million barrels a day, the lowest since mid-2009, when production briefly dipped to a 20-year low of 1.5 million bpd.

    Any further fall, according to a recent report by Financial Times, will allow Angola to assume Nigeria’s position as the continent’s largest crude producer.

    – The Punch

    Related News

    IPMAN applauds Dangote Refinery’s free fuel distribution initiative

    US Supreme Court to hear Chevron, Exxon appeal over Louisiana coastal damage

    Conflict in Middle East shadows oil industry gathering in Malaysia

    E-book
    Resilience Exhibition

    Latest News

    NGX Group, SEC pursue capital market diplomacy to deepen Nigeria-China financial ties

    June 18, 2025

    AfDB concludes strategic high-level mission to Ghana

    June 18, 2025

    Delta community warns Chevron over alleged connivance in HCDT expansion 

    June 17, 2025

    Nigeria stocks record 12.15% return year-to-date

    June 17, 2025

    Tinubu pledges Nigeria’s commitment to Africa’s economic transformation

    June 17, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.