Nigeria’s oil and gas exports hit by oil thefts, pipeline sabotage
Oil thefts and rising pipeline sabotage in the Niger Delta are hampering the growth of Nigeria’s oil and gas export, The Guardian newspaper reported, citing Nigerian Upstream Petroleum Regulatory Commission (NUPRC) CEO Gbenga Komolafe.
He stated that less-than-expected crude output affected gas production, primarily associated gas.
Nearly 800,000 barrels of oil remained stuck in wells amid prevailing challenges.
According to the official, most of the key oil fields, terminals and facilities were facing teething problems and a resurgence of attacks on oil facilities.
The 150,000 barrels per day (bpd) Nembe Creek Trunk Line feeding one of Nigeria’s key export grades has faced repeated attacks from militants, the newspaper said.
Komolafe said Nigeria failed to take advantage of the global crisis due to depressed production as the country’s revenue resources and gas production were unbalanced despite increasing international oil prices and demand.
He stated that the government was working with security agencies to address the concerns of oil-producing companies.
NUPRC’s recent data showed that crude oil production fell to 972,394 bpd in August, the lowest level since at least 1990, from 1.083 million bpd in July, the newspaper said.
Source: Reuters (Editing by Seban Scaria)