Findings have revealed that Nigeria is losing about 300,000 barrels of crude oil per day due to the bombing of Forcados pipeline that conveys Forcados grade of crude oil to the over 400,000 barrels per day Forcados Export Terminal.
The loss, which translates to an average of $12 million daily at an oil price of $40 per barrel, arose from the damage caused on the 48-inch underwater pipeline, which disrupted crude oil flows to the export terminal.
It was also learnt that the loss may have overshadowed the gains Nigeria would have derived from the recent rise in oil price.
The affected Trans-Forcados Pipeline, which is operated by Shell Petroleum Development Company of Nigeria Limited (SPDC), belongs to the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC).
Investigation also revealed that some marginal field producers such as Pillar Oil, Midwestern Oil and Gas, Platform Petroleum and Energia also convey their crude oil through the pipeline
However, it was learnt that these marginal field producers have another alternative route through the pipelines operated by the Nigerian Agip Oil Company (NAOC) to carry their crude oil to Brass Export Terminal.
