In Just 3 Months Nigeria Loses More Than N620billion To Oil Thieves Under Buhari Government - NNPC Boss Kyari For Petroleum Corporation,
Mr Kyari, addressing members of the Petroleum Resources House of Representatives Committee on Thursday, April 2022 in Abuja province, called for the establishment of special courts to deal with crude oil theft cases, as well as the operation of illegal refineries in the province.
Corporation Limited, says the country has lost more than N623.7 billion ($ 1.5 billion) on the legal value of N415 to $ 1 crude oil, which represents 250,000 barrels of crude oil per day, from oil pirates between January and March. 2022.
at a discussion session with the House of Representatives Committee on Petroleum Upstream, reports the News Agency of Nigeria, Mr Kyari kicked off Thursday in Abuja.
The President, Muhammadu Buhari is also the Minister for State for Petroleum Resources.
Mr Kyari, who showed lawmakers video, photographic evidence and the extent of the damage done to the pipeline, also lamented the negative economic impact of the crisis which he said was being addressed through joint efforts by security and safety agencies. NNPC and other industry players and regulators.
From January 2022 to April 5, we lost an average of 250,000 barrels per day and at the current price of $ 100 a barrel,
even in this short period of time, we have lost about $ 1.5 billion. This has led to a decline in production from Bonny's terminal.
“on the month of January -2021, we produc8 239,000 barrels on only Bonny link line and received only a sum of 190,000 barrels which means we lost 19,000 barrels, by criminals everyday.
The situation became so bad that on March 7-2022, it came to zero, so we closed the queue and declared 'force Majeure'.
Even in our most reliable pipeline Forcados, we still lose about 7000 barrels a day. Needless to say, all of this comes as a result of the actions of vandals and oil criminals.
There were too many interventions that took place and we continued to remove entries. To put it in context, within a distance of less than 20 miles, we have removed 85 entries. So, you can imagine when you use a 300- to 400-mile pipeline, he added.
these jobs are always done in a very professional way. You will find that you need more time, capacity to do this installation. Elsewhere, we have seen the installation that is exactly the same as the service pipe. ” he noted
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