90% of Nigeria’s oil spills caused by theft, sabotage – Shell Chairman

diamond hope

February 22, 2018 12:09 PM

Osagie Okunbor has stated that oil spills are mostly as a result of external influences of the Shell companies.

Osagie Okunbor, Chairman of Shell Companies in Nigeria has said that over 90% of oil spills in Nigeria are as a result of theft and sabotage to oil facilities.

Okunbor gave the insight during an Executive Roundtable session titled: “Growth outlook and strategies for staying competitive after a global downturn” at the ongoing Nigeria International Petroleum Summit in Abuja.

He insisted that the operational failures of the International Oil Companies (IOCs) can only account for 5% to 10% of the oil spills despite popular beliefs, stressing that Shell has resolved to shut down any asset considered to be unsafe.

According to him, Shell had over the years invested huge amounts in pipeline replacements and assets integrity, adding that oil spillage is the biggest issue confronting the company in the Niger Delta region.

The Chairman said that pipeline vandalism was the main reason Nigeria elapsed into recession in 2016, adding that the country was losing about 300,000 barrels per day due to sabotage at the time when oil prices were at historic lows.

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