1447 Pipelines Destroyed in Five Months – NNPC

NNPCThe Nigerian National Petroleum Corporation (NNPC) Tower

The activities of pipeline vandals and oil thieves are taking a toll on the operations of the Nigerian National Petroleum Corporation as the oil firm suffered 1447 pipelines breaches incidents between January and May 2016.

The Group Managing Director, NNPC, Dr. Maikanti Baru, who disclosed this during a visit to the Commandant-General, Nigerian Security Civil Defense Corps, Abudullahi Muhammadu, at the corps headquarters in, also said the corporation lost 560,000 barrels of crude meant for the refineries, as well as feedstock and 109 million litres of petroleum products, within the same period.

Baru, in a statement from the corporation on Wednesday, said, “The 2016 National Budget Plan was based on 2.2 million barrels per day of crude oil production. However, the budget plan is now grossly impacted due to renewed militancy with 700,000 bpd of oil production curtailed due to pipeline vandalism.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]com.

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