Chevron’s Okan offshore production platform around Escravos in Warri, Delta State was last week blown up, barely 48 hours after the first attack, a pipeline transporting crude oil to the Warri and Kaduna were also blown up.
A group known as Niger Delta Avengers has claimed responsibility for the explosions which has affected the nation’s socio-economic existence. Below are the 8 ways Nigeria is suffering from the attacks:
1. Nigeria’s output of crude oil has declined and is now close to a 22-year low, Reuters data shows, putting intense pressure on the country’s finances.
2. Shell’s Forcados field is still closed and under force majeure following a February subsea pipeline attack, taking out 250,000 barrels per day.
3. The violence has depressed production in the country to roughly 1.69 million bpd in May, the lowest since at least June 2007.
4. The violence could scare investment away from the country according to analysts. If situation remain as it is, companies will not consider Nigeria for upstream investments.
5. The Trans Forcados pipeline in Burutu Local Government Area of Delta State had reduced the production of the Nigeria Petroleum Development Company from 250,000 barrels per day to almost 115,000 bpd.
6. Also, NPDC, the crude oil production arm of the Nigerian National Petroleum Corporation, had been forced to stop operation in the area because of the damage to the 48-inch pipeline being operated by the Shell Petroleum Development Company.
7. The NNPC’s latest financial report stated that vandalism of the Forcados Export Pipeline resulted in crude oil loss worth about N20bn between the months of February and March
8. It was also gathered that the loss may have eroded the gains Nigeria would have derived from the recent rise in oil price.
9. The attacks on the oil and gas facilities have worsened the blackout being experienced in many parts of the county as four power plants became idle on Sunday, bringing the total number of plants not generating any megawatts of electricity to 12.
10. Shell workers at the Bonga oil field in the Niger Delta on Monday were evacuated following a militant threat. This significantly reduce man power in the sector
A group known as Niger Delta Avengers has claimed responsibility for the explosions which has affected the nation’s socio-economic existence. Below are the 8 ways Nigeria is suffering from the attacks:
1. Nigeria’s output of crude oil has declined and is now close to a 22-year low, Reuters data shows, putting intense pressure on the country’s finances.
2. Shell’s Forcados field is still closed and under force majeure following a February subsea pipeline attack, taking out 250,000 barrels per day.
3. The violence has depressed production in the country to roughly 1.69 million bpd in May, the lowest since at least June 2007.
4. The violence could scare investment away from the country according to analysts. If situation remain as it is, companies will not consider Nigeria for upstream investments.
5. The Trans Forcados pipeline in Burutu Local Government Area of Delta State had reduced the production of the Nigeria Petroleum Development Company from 250,000 barrels per day to almost 115,000 bpd.
6. Also, NPDC, the crude oil production arm of the Nigerian National Petroleum Corporation, had been forced to stop operation in the area because of the damage to the 48-inch pipeline being operated by the Shell Petroleum Development Company.
7. The NNPC’s latest financial report stated that vandalism of the Forcados Export Pipeline resulted in crude oil loss worth about N20bn between the months of February and March
8. It was also gathered that the loss may have eroded the gains Nigeria would have derived from the recent rise in oil price.
9. The attacks on the oil and gas facilities have worsened the blackout being experienced in many parts of the county as four power plants became idle on Sunday, bringing the total number of plants not generating any megawatts of electricity to 12.
10. Shell workers at the Bonga oil field in the Niger Delta on Monday were evacuated following a militant threat. This significantly reduce man power in the sector