{"id":78660,"date":"2021-02-21T05:14:34","date_gmt":"2021-02-21T04:14:34","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=78660"},"modified":"2021-02-21T05:14:34","modified_gmt":"2021-02-21T04:14:34","slug":"shell-denies-stealing-2million-barrels-of-crude-says-allegation-misleading","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/shell-denies-stealing-2million-barrels-of-crude-says-allegation-misleading\/","title":{"rendered":"Shell Denies Stealing 2million Barrels of Crude, Says Allegation Misleading"},"content":{"rendered":"
\n
The Shell Petroleum Development Company of Nigeria (SPDC) says allegations of involvement in oil theft at its Bonny Crude Export Terminal is misleading.<\/div>\n
\n
\nA 2 million barrels crude deficit between 2016 and 2018 reported at the Bonny\u00a0terminal operated by SPDC has caused a dispute amongst several oil
\nfirms that use the oil export facility.<\/p>\n

Aiteo Exploration and Production Company claimed that SPDC shortchanged it of 1,022,029 barrels of crude while using the Bonny Crude Export Terminal\u00a0operated by SPDC between 2016 and 2018.<\/p>\n

Aiteo, an indigenous oil firm which acquired OML 29 for US$2.4 billion following SPDC\u2019s 2015 divestment of its 45 per cent stake from the asset.<\/p>\n

OML 29 includes the 97-kilometer NCTL which has capacity to lift up to 180,000 barrels per day of crude from oilfields in Bayelsa and Rivers to the\u00a0Bonny terminal.<\/p>\n

In a statement, made available to NAN on Saturday, Mr Bamidele Odugbesan, Media Relations Manager at SPDC, described the claim as
\nfactually incorrect.<\/p>\n

\u201cThe crude theft\/diversion allegation is also factually incorrect.<\/p>\n

\u201cThis is a distinct issue that relates to the directive by the Department of Petroleum Resources to SPDC as operator of the Bonny Oil and Gas Terminal, an asset belonging to the SPDC Joint Venture, to implement a crude re-allocation programme between injectors into the SPDC\u00a0JV\u2019s Trans Niger Pipeline and injectors into the NCTL.<\/p>\n

\u201cCrude allocation review and re-allocation is a normal industry practice to re-allocate previous provisional allocated volumes under the directive and supervision of DPR, and this is not an exercise resulting from\u00a0crude diversion, underreporting or theft at the terminal.<\/p>\n

\u201cThis industry practice is not peculiar to the SPDC-operated Bonny Oil and\u00a0Gas Terminal alone and does not translate into any loss of volumes
\nto the Federal Government of Nigeria.<\/p>\n

\u201cThe re-allocation in issue was initiated by SPDC as operator of the Bonny\u00a0Oil and Gas Terminal, while the DPR validated and confirmed it for
\nimplementation for the concerned oil producers.<\/p>\n

\u201cCrude oil production metering and allocation are subject to specific guidelines\u00a0issued by the industry regulator, DPR. SPDC strictly adheres
\nto these guidelines and the implementation is regularly verified by the regulator,\u201d Odugbesan stated.<\/p>\n

NAN learnt that SPDC, Belema Oil Ltd, Eroton E & P, Niger Delta Petroleum Resources, Total E & P and Walter Smith Petroleum Ltd use the NCTL to convey crude to the Bonny terminal and are proportionately affected\u00a0by the deficit. (NAN)<\/p><\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Shell Petroleum Development Company of Nigeria (SPDC) says allegations of involvement in oil theft at its Bonny Crude Export Terminal is misleading. A 2 million barrels crude deficit between…<\/p>\n","protected":false},"author":1,"featured_media":78476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-78660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nShell Denies Stealing 2million Barrels of Crude, Says Allegation Misleading - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/shell-denies-stealing-2million-barrels-of-crude-says-allegation-misleading\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shell Denies Stealing 2million Barrels of Crude, Says Allegation Misleading - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Shell Petroleum Development Company of Nigeria (SPDC) says allegations of involvement in oil theft at its Bonny Crude Export Terminal is misleading. 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