NNPC loses 560,000 barrels of crude to vandals – GMD

NNPC loses 560,000 barrels of crude to vandals – GMD

The Nigerian National Petroleum Corporation (NNPC) lost 560,000 barrels of crude oil meant as feed stock to the refineries due to pipeline vandalism between January and May, Group Managing Director Dr Maikanti Baru?,said yesterday in Abuja. He spoke during a visit to the Commandant-General of the Nigerian Security and Civil Defence Corps (NSCDC), Abdullahi Muhammadu.

Baru said the visit was to strengthen collaboration between the NNPC and the NSCDC to better protect its oil installations/pipelines in the country. “Under my watch? as GMD, NNPC is committed to collaborating with the NSCDC and other government security agencies to finding lasting solution to eliminate losses and energy security threats,” he said. He said the activities of vandals on NNPC’s pipelines in the Niger Delta region had become unbearable, and had led to substantial decline in the country’s crude oil production.

“The 2016 budget plan was based on 2.2 million bpd of crude production. “The fiscal plan is now affected due to renewed militancy with about 700,000 bpd of oil production curtailed due to pipeline vandalism,” he said. Baru said that over 3,000 vandalism incidents were recorded every year from 2010 to 2015, while in 2015 alone, pipeline losses? of products were over 643 million litres amounting to N51.28 billion…Read more

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