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Nigeria Loses 17.9m Barrels Of Crude Oil To 8 Terminals’ Closure

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The Nigerian National Petroleum Company (NNPC) Limited has said the closure of eight oil terminals between August and October this year led to the loss of 17.86 million barrels.

According to analysis, this loss was valued at about N556 billion at the official exchange rate of N411.95 to the dollar.

The collated data revealed that the affected eight terminals included Forcados, Bonny, Odudu, Brass, Yoho, Urha, Ajapa and Aje.

The amount recorded in August was the highest as an equivalent of 6,680,620 barrels were lost.

Further analysis of the report from the NNPC showed that 20 incidents led to the deferred output due to various production shut-ins.

It was also observed that eight crude oil terminals were affected in August, as production was curtailed at the facilities during the period.

The affected terminals in the reviewed month included Forcados, Sea Eagle, Brass, Yoho, Qua Iboe, Escravos, Ajapa and Otakikpo.

September loss followed as 6,362,700 barrels were lost as a result of shut-ins and other incidents.

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For the month of September, 18 incidents warranted differing 6,362,700 barrels of crude oil following production shut-ins recorded.

A total of nine terminals were affected in September, including Forcados, Sea Eagle, Brass, Yoho, Qua Iboe, Escravos, Urha, Ajapa and Otakikpo.

On some of the incidents that led to the crude oil losses in September, the NNPC stated that “production (was) curtailed due to pipeline outages” at the Forcados Terminal.”

It also noted that “Energia injection into Brass line (was) suspended from September 1 to 30, 2021 due to pipeline damage.”

The shut-ins and losses, according to the report, were due to pipeline vandalism, community interferences, sabotage of oil facilities, among others.

Explaining some of the incidents that curtailed production in one of the terminals, for instance, the NNPC said, “Energia (an oil firm) injection into Brass line (was) suspended due to pipeline damages.

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“Pillar injection into Brass (was) suspended due to third party interferences on NAOC (Nigeria Agip Oil Company) Akiri pipeline.”

As a result of deferred/lost production in October alone was to the tune of 4,824,946 barrels of oil, the lowest among the figures posted during the three-month period.

Findings from the NNPC reports of events that affected production in October 2021, however, showed that the incidents that led to crude oil production shut-ins, reduced to 11 during the month

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