Pipeline Vandalism Cost Nigeria N59.6bn In 2014 - NNPC Laments

 

The Nigerian National Petroleum Corporation, NNPC, on Wednesday, July 1, revealed that the country lost crude oil and other petroleum products valued at N59.597 billion to pipeline vandalism in 2014.

 

The NNPC, in its Annual Statistical Bulletin for 2014 released yesterday, disclosed that pipeline vandalism increased by 4.54 per cent compared to the situation in 2013.

 

The NNPC noted that 355,690 metric tonnes of petroleum products valued at N44.75 billion was lost in the period under review, in addition to 1.08 million barrels of crude oil valued at about N14.847 billion.

 

It said: “A total of 3,732 line breaks was reported on NNPC pipelines out of which 3,700 was as a result of vandalism, while 32 cases were due to system deterioration resulting in a loss of 355.69 thousand metric tonnes of petroleum products worth about N44.75 billion.

 

Giving a breakdown of crude oil loss, the NNPC stated that the country lost 17,964 barrels of Bonny Light valued at N264.37 million, while 586,776 barrels of Escravos Light valued at N8.636 billion was lost to pipeline vandalism in the period under review.

 

In addition, the activities of the pipeline vandals led to the loss of 341,566 barrels of Ughelli Blend valued at N5.027 billion while 62,499 barrels of Seplat blend valued at N919 million was lost in 2014.

 

In the area of petroleum products loss, pipeline vandalism in the Port Harcourt network, led to the loss 7,460 metric tonnes of petroleum products valued at N958.72 million; Warri lost 14,290 metric tonnes valued at N2.312 billion, while Mosimi lost 332,850 metric tonnes valued at N41.279 billion.

 

Also, the vandalisation of the pipeline network in Kaduna led to the loss of 1,080 metric tonnes valued at N200.39 million.