Due to the closure of three crude oil export ports with a combined daily capacity of 580,000 barrels, Nigeria is losing at least N32 billion.
200 000 barrels per day are reportedly lost through the Forcados terminal, while 180 000 barrels per day are lost through the Trans Niger pipeline, according to the report.
The Brass terminal also loses 200 000 b/d, bringing the total to 580 000 b/d.
According to report, the shutdown of the three oil terminals cost the nation $75.4 million, or N32.4 billion, every day.
It was discovered that the Forcados crude oil export facility, which is run by Shell Petroleum Development Company, SPDC, had been closed since the beginning of August.
Reports state that the terminal’s repairs are still being made and that it might reopen in late September.
Additionally, the port has experienced production shutdowns; these products would be shipped right away as it reopened.
Since June of this year, oil has not been transported by the second terminal, the 180,000-barrel-per-day Trans Niger Pipeline, TNP, one of two pipelines that feed the Bonny oil terminal.
Between October 2021 and February 2022, producers of the pipeline’s crude oil got as little as 5% of the amounts pumped through it.
When the local government checked some of the sites where the TNP was illegally tapped in about 150 places, the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, reported this in March when the local government checked some of the areas where the theft occurred.
According to reports, the Brass terminal has also been closed since June of this year as a result of illegal pipeline tapping or bunkering, which has reduced the amount of oil that reaches the terminal.
Nigeria’s output decreased to one million barrels per day in August, the lowest quarterly production since 2016, according to the National Bureau of Statistics (NBS).
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