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Pipeline Vandalism Rises By 26.5%
Pipeline vandalism across the country has continued to increase, despite lack of activities at the nation’s four refineries, with over 151 pipeline points in the first quarter of 2021. This is a surge of 26.5 percent when compared to 111 pipeline points recorded in the corresponding period of 2020. It was gathered that within the…
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Nigeria Spends N60bn Annually On Vandalized Pipelines
Nigeria losses an average of 200,000 barrels per day to the destruction of oil pipelines. This loss amounts to a total of 60 billion spent annually on repair and maintenance. The Minister of Information and Culture, Lai Mohammed, who disclosed this said that the destruction of public infrastructure by some unpatriotic Nigerians required great concern…
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NNPC: Trading Surplus Rises To N39.85bn
The Nigerian National Petroleum Corporation has announced a N39.85bn trading surplus for February 2021, representing a 314.24 percent increase from the N9.62bn surplus it recorded in January. Trading surplus or trading deficit is derived after deduction of the expenditure from the revenue for the period under review. NNPC disclosed this in its February 2021 edition…
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NNPC Records 37% Drop In Pipeline Vandalism
For the month of January 2021, the Nigerian National Petroleum Corporation has announced a 37.21 percent decrease in cases of pipeline vandalism across the country. This was contained in the January 2021 (66th) edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public…
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NNPC: N53.36bn Spent On Pipeline Repairs In 11 Months
The Nigerian National Petroleum Corporation has spent N53.36bn on pipeline repairs and management cost from January to November 2020. A total of 441 points on petroleum products pipelines were vandalised in 2020, compared to 1,484 points in 2019, data from the NNPC said. “Products theft and vandalism have continued to destroy value and put…
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NNPC Expects $8.7 Billion Investments From Refineries
The Nigerian National Petroleum Corporation has said that it expects an inflow of about $8.7 billion investment during the rehabilitation of three refineries and revamping of pipelines. This investment is expected form the Warri Refinery and Petrochemical Company (WRPC), the Kaduna Refinery and Petrochemical Company (KRPC), as well as the revamping of some of its…
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Oil Theft: Nigeria Losses 200,000 Barrels Of Oil Daily
The Nigerian National Petroleum Corporation disclosed that the country loses about 200,000 barrels of crude oil daily to thieves and vandals. The Group Managing Director NNPC , Mallam Mele Kyari made this disclosure during a meeting with the Chief of Defence Staff, Major General Lucky Irabor, commending the effort of security agencies for their support.…
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NNPC Spent N49.68bn On Pipeline Vandalism In 10 Months
The Nigerian National Petroleum Corporation spent the total sum of N49.68 billion to repair and manage pipelines from January to October 2020. In its latest monthly report, NNPC published that a total of 363 vandalised points were recorded from January to October 2020. The corporation said it spent N5.48bn on pipeline repairs and management cost…