Yenagoa — Indications are that Nigeria’s revenue from crude oil will peak further as the Nembe Creek Trunk Line comes back online.
Exports at the pipeline resumed on March 7 after the explosion which occurred February 28, according to the operator of the line, Aiteo Eastern Exploration and Production Company Limited.
The pipeline is one of two major lines transporting Nigeria’s number one crude oil grade, Bonny Light.
The NCTL exports 150,000 barrels of crude daily to the Bonny oil export terminal.
Shell Petroleum Development Company, SPDC, in 2015, divested its equity in OML 29 and transferred its interest in NCTL for $1.7 bn to Aiteo, an indigenous Oil and Gas Exploration, and Production firm.