Shell Loses 10,000bpd Crude Oil Worth N202m to Theft
By Adedapo Adesanya
Shell Petroleum Development Company of Nigeria Limited (SPDC) Joint Venture said it lost about 10,000 barrels of crude oil worth N202 million to theft daily in the Niger Delta.
This was disclosed by Shell General Manager External Relations, Mr Igo Weli, at a media parley in Port Harcourt on Pipelines Right of Way, Encroachment and Vandalism.
“SPDC JV is currently losing about 10,000 barrels per day (bpd) of oil or N202 million lost daily from its pipelines to crude oil thieves in the Niger Delta.
“These are critical national assets with 55 percent government interest and they produce the crude oil that accounts for over 90% of Nigeria’s foreign exchange and the bulk of government revenue.
“Hurting these assets means hurting the nation’s revenue, the economy of the states, the health of the people and the environment, Mr Weli said.
He however clarified that: “This is a reduction from the loss of around 11,000 bpd in 2018 and about 9,000 bpd of oil lost daily in 2017.”
Mr Weli then stated that the company had so far discovered and removed more than 1,160 illegal theft-points on its pipelines since 2012.
He further said that its pipelines were breached by vandals 111 times in 2018 alone resulting to oil spills in the Niger Delta.
“We are concerned about the lives and safety of those involved in pipeline vandalism and crude oil theft as well as the environment.
“SPDC puts safety first and have constantly made appeals to those involved to stop destroying their lands and heritage from the spills and pollution arising from their activities.
“We are calling on government, communities and other stakeholders to stem the incessant attack on our oil assets in the Niger Delta,” he added.