Pipeline Vandalism: NNPC Loses N51.25bn In 2015

[caption id="attachment_11176" align="alignnone" width="690"]NNPC Towers[/caption]

The Nigerian National Petroleum Corporation on Wednesday announced that it recorded a loss of N51.28bn to pipeline vandalism in the year 2015.

Dr Maikanti Baru, the Group Managing Director of the Corporation, ‎revealed this when he paid a courtesy visit to the Commandant-General of the Nigeria Security and Civil Defence Corps , Abdullahi Muhammadu in Abuja.

Baru who also revealed that his visit was to strengthen the collaboration between the NNPC and the NSCDC and to fight a lasting solution to security threats on energy installations said, “Under my watch‎ as GMD, NNPC is committed to collaborating with the NSCDC and other government security agencies to finding lasting solution to eliminate losses and energy security threats.”

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Baru who condemned the militants act said the activities of vandals on NNPC’s pipelines in the Niger Delta region had become unbearable, and had led to substantial decline in the country’s crude oil production.
He said, “The 2016 budget plan was based on 2.2 million bpd of crude production.

“The fiscal plan is now affected due to renewed militancy with about 700,000 bpd of oil production curtailed due to pipeline vandalism.”

According to Baru, over 3,000 vandalism incidents were recorded every year from 2010 to 2015, while in 2015 alone, pipeline losses‎ of products were over 643 million litres amounting to N51.28 billion.

He also said “the domestic natural gas supply to power had also been badly affected with an estimated drop of about 50 per cent from 1,400mmscfd to below 700mmscfd.”

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The NNPC boss, therefore, called on the NSCDC and other security agencies to step up security and surveillance in the affected areas in the interest of the nation.

Recall that the NSCDC boss pledged to step up security surveillance and protection of oil installations in the country as its personnel had been undergoing re-training to deal with the challenge.

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