Home News Oil sector loses 754,000bpd to pipeline disruption

Oil sector loses 754,000bpd to pipeline disruption

5
0
SHARE

Nigeria’s oil sector is estimated to have lost over 754,000 barrels per day (bpd) in February, to production shut-in occasioned by pipeline vandalism, according to the latest monthly financial report of the Nigerian National Petroleum Corporation (NNPC).
This translates to revenue loss of about $49.010million (N17.643billion) at an average price of $75 per barrel if the quantities were sold.According to the report, about 160,000bpd were shut-in throughout February due to the ageing facilities/integrity issues at the Qua Iboe Terminal.

Read full news….

LEAVE A REPLY

Please enter your comment!
Please enter your name here