The current\u00a0 bombing of oil and gas facilities by Niger Delta Avengers and
\nEgbesu Boys are exacting heavy tolls on the nation\u2019s mono-economy as it is
\nlosing a hefty $1.017 million (about N203.45 million daily).<\/p>\n
This figure is as a result of the current price of $48.44 per barrel for
\nthe benchmark crude grade, Brent, and using an average exchange rate of
\nN200 to a dollar.<\/p>\n
The nation\u2019s crude oil export is said to have dipped further by 21,000
\nbarrels per day, due to recent attacks on pipelines by militants in
\nBayelsa and Delta States respectively.<\/p>\n
As exclusively scooped by Pointblanknews.com,\u00a0 \u00a0Eni has officially
\ndeclared a force majeure on the Brass River crude oil stream after the
\nbombing of the pipelines used in the transport of the crude oil grade.<\/p>\n
It was gathered that about 21,000 barrels per day (bpd) in total of the
\nstream\u2019s production were impacted by the blast, but just 4,200 bpd were
\nfrom Eni\u2019s equity stake.<\/p>\n
Disturbed by the spate of attacks on pipelines, Minister of State for
\nPetroleum Resources,\u00a0 \u00a0Ibe Kachikwu, admitted that the nation\u2019s crude oil
\nexport has dipped by 800,000 barrels per day, from about 2.2 million
\nbarrels to 1.4 million barrels per day.<\/p>\n
The production outputs of the two major oil firms, Shell Petroleum
\nDevelopment Company (SPDC) and its subsidiaries as well as Chevron Nigeria
\nLimited (CNL) have suffered drastic reduction due to the attacks on their
\nfacilities. Worse hit is the Chevron Nigeria Limited, with its facilities
\nat Abiteye, Marakaba and Ogan off shore field damaged by the militants.<\/p>\n
Several months on, Shell is still battling to contain the spill triggered
\nby the attack on her Forcados subsea export line.<\/p>\n
Acting Director-General of the proposed Maritime Security Agency (MASECA),
\nMr. Jacob Ovweghre, is quoted as calling on the Niger Delta Avengers, NDA,
\nand other militant groups to stop the destruction of oil and gas
\nfacilities in the Niger Delta.<\/p>\n
Ovweghre appealed to the militants to changeround and pursue their
\ngrievances through dialogue in line with the rule of law so as to gain
\ncredibility, adding that their dastardly acts would bring more hardship
\nto the people of the oil rich region who he stressed would bear the
\nbrunt.<\/p>\n
\u2018\u2019The destruction of the pipelines in the Niger Delta will reduce the
\nstates\u2019 revenue bases and bleed the nation\u2019s economy, increase
\nenvironmental degradation, pollution, poverty, hunger, school drop-out,
\nunrest, insecurity, under-development and economic loss\u2019\u2019, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The current\u00a0 bombing of oil and gas facilities by Niger Delta Avengers and Egbesu Boys are exacting heavy tolls on the nation\u2019s mono-economy as it is losing a hefty $1.017…<\/p>\n","protected":false},"author":1,"featured_media":49579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17,5],"tags":[],"class_list":["post-49578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive","category-news"],"yoast_head":"\n