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UPDATE 1-Sabotage on Nigeria's oil-exporting NCTL pipeline causes significant production losses - Aiteo

Published 17/11/2019, 20:28
© Reuters.  UPDATE 1-Sabotage on Nigeria's oil-exporting NCTL pipeline causes significant production losses - Aiteo

(Adds details, quotes)

ABUJA, Nov 17 (Reuters) - Sustained economic sabotage by

vandals on Nigeria's oil-exporting Nembe Creek Trunk Line (NCTL)

has led to significant losses in production, operator Aiteo said

on Sunday.

Nigeria, Africa's biggest crude oil producer, is accustomed

to attacks on oil pipelines. Sabotage in the oil-producing Niger

Delta region in 2016 cut Nigeria's crude output from a peak of

2.2 million barrels per day (mbpd) to near 1 mbpd, pushing the

OPEC member into its first recession in 25 years.

The NCTL, one of two that exports Bonny Light crude oil, has

been shut down more than once this year. It was shut down due to

a fire in April, and placed under force majeure in September.

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"The disruptions that these attacks have brought about has

led to direct, irretrievable and significant losses in

production and consequently has created revenue deficits that

directly impact all the stakeholders," Aiteo said in a

statement.

"By virtue of this level of sabotage, the NCTL has been shut

down for 61 days this year alone, constituting 83% cause of

downtime in this year only," it said.

It added that over the last four years, more than 200 shut

down days had been recorded.

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