Nigeria to Lose $5.3million Oil Revenue Daily As Militants Blow Up Chevron’s Valve

Nigeria will be losing an estimated $5.3 million daily, equivalent of N1.05 billion as a result of the blowing up of Chevron’s Valve Platform Wednesday night by Niger Delta militants.

The militants reportedly blew up the platform located on the high sea near Escravos in Warri South West Local Government Area of Delta State.

It was learnt that as a result of this development, Chevron operations in the area would be halted as the platform is a major connecting point where all other platforms link up and serve as a fulcrum to Chevron BOP and the Chevron tank farm.

It was also gathered that nothing less than 130,000 barrels of oil per day would be lost to the incident which translates an estimated loss of $5.3 million daily going by the current price of crude in the international market.

Though Chevron was yet to come out with an official statement on the attack, a new militant group in the region, the Niger Delta Avengers (NDA), has claimed responsibility.

According to a statement issued by the group’s spokesman, Madoch Agbinibo, “The high command of the Niger Delta Avengers wants to use this medium to thank Strike Team 6 for successfully blowing up the Chevron Valve Platform. And we are ready to protect the Niger Delta people.”