Oil and Gas Nigeria loses N25.6bn as Shell shuts Trans-Niger Pipeline

The pipeline, which is run by Shell and carries Nigeria’s Bonny Light crude oil to an export terminal, was shut down on May 12, 2015.

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Former Petroleum Minister, Diezani Alison-Madueke play

Former Petroleum Minister, Diezani Alison-Madueke

(Daily Post)
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According to reports, Nigeria has lost about N25.6 billion ($102 million) in crude oil earnings due to the closure of the Trans-Niger Pipeline.

The pipeline, which is run by Shell and carries Nigeria’s Bonny Light crude oil to an export terminal, was shut down on May 12, 2015.

A spokesperson for Shell has also refused to state how long the pipeline will remain closed.

The shutdown of the Trans Niger has prevented about 1, 600, 000 barrels, at an average of $64 each, from being sold. This translates to a total sum of $102, 000, 000.

Group Executive Director, Gas and Power for the Nigerian National Petroleum Corporation (NNPC), David Ige, confirmed an increase in pipeline problems in the country saying that the trend was partly responsible for the decline in power generation.

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