VANDALISM: SHELL NIGERIA’S OIL OUTPUT SLIDES TO 37,000BPD

The impact of the recent spate of attacks on oil and gas assets in the Niger Delta has started to reverberate across the petroleum industry, as Shell Nigeria, yesterday, disclosed that its crude oil production dropped sharply to 37,000 barrels per day in the second quarter, Q2 2016. Shell in its Q2 2016 financial statement released to its investors said that production from its Nigerian subsidiary, Shell Petroleum Development Company, SPDC, dipped by 41 per cent to 37,000 barrels per day, bpd, during the period, down from the 63,000 bpd recorded in the same period of 2015, and 24 per cent lower than production in the first three months of the year.

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ALISON-MADUEKE LOBBIES FOR NIGERIA AHEAD OF OPEC MEETING

Ahead of the Organisation of Petroleum Exporting Countries’ (OPEC) meeting billed for Thursday in Vienna, Austria, Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, at the weekend, met with some economic and financial experts on the OPEC’s Economic Commission Board (ECB).

The meeting, it was learnt, was to ensure that the decision to be taken by OPEC at the meeting favours the peculiar challenges facing Nigeria. 

Read more @ New telegraph

NIGERIA LOSES N78BN TO CRUDE THEFT

Nigeria lost N77.87 billion worth of crude oil and other petroleum products in 2013, the Nigerian
National Petroleum Corporation, NNPC, has revealed.

The NNPC, in its Annual Statistics Bulletin 2013, released recently, said 327,480 metric tonnes, MT, of petroleum products were lost, while a total of 2.312 million barrels of crude oil were stolen from pipelines in the period under review.

Read more @ Vanguard