60,000 Barrels Of Crude Oil Stolen From SPDC Lines Daily

LAGOS – Nigeria’s Shell Petroleum Development Company (SPDC) said that over 60,000 barrels of crude oil is stolen from its lines on a daily basis.

Mutiu Sunmonu, the Country Chair of Shell Nigeria said this in Lagos at the ongoing 37th Annual International Conference & Exhibition organised by the Society of Petroleum Engineers (SPE).

spdc pipelineSunmonu, who was represented by the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), Chike Onyejekwe, said that the nation could grow its oil reserves to 40 billion barrels.

He said that the growth could be possible if the Federal Government tackled issues of oil theft urgently.

“But in order to achieve this, we must urgently tackle oil theft in the country.

“At a point this year, over 60,000 barrels of crude oil was stolen from SPDC lines everyday, ” Sunmonu said.

Sunmonu said that the activities of crude oil thieves and operators of illegal refineries in the Niger Delta had become very rampant.

He said that the nation depended on the oil industry for 95 per cent of its export earnings and 80 per cent of government revenue.

According to him, government aspires to increase oil production to 4 million barrels per day, grow reserves to 40 billion barrels, and earn as much revenue from gas as oil by 2020.

He said that activities of the illegal refineries were extremely damaging to the environment.

“Personally, I believe the perpetrators of these crimes need to be arrested and prosecuted, to serve as a deterrent,” Sunmonu said.

He said that Shell Nigeria ran an extensive training programme to build human capital development to grow Africa’s oil and gas production.

Sunmonu said that Shell Nigeria also gave Postgraduate Scholarship Awards in Engineering and related fields.

He said that Shell Nigeria was at the vanguard of developing local content, adding that it had organised several engineering and vocational training programmes.

The Shell chief said that the company also organised entrepreneurship development programmes and training of wire line engineers, to grow the sector.

Over 70 exhibitors are participating in the three-day exhibition.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *