Nigeria is losing at least N32bn daily due to the shutdown of three crude oil export terminals with a combined capacity of 580, 000 barrels per day. Operated by Shell Petroleum Development Company, SPDC, the 200, 000 barrels Forcados crude oil export terminal has been shut down since early August, according to findings. The second terminal, the 180,000-barrel-a-day Trans Niger Pipeline, TNP, one of two that feed Bonny oil terminal, has stopped transporting oil due to theft since June this year. However, the Nigerian police said the two oil pipelines feeding the export terminal were blown up by explosives. On his part, a lawyer advising NNPC Ltd on oil and gas projects and transactions and partner at Bloomfield Law Practice, Ayodele Oni, advised the Federal Government to provide solutions to the oil theft challenges bedeviling the country.

Source: Punch September 18, 2022 02:40 UTC