National Economy
Tuesday, July 8, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Shell Discovers Another Oil Leak After Resumption Of Forcados Export Facility 

by Chika Izuora
2 years ago
in Business, News
Reading Time: 2 mins read
Shell-Petroleum-Development-Company
Share on FacebookShare on TwitterShare on Telegram

Nigeria’s oil production is facing another major challenge following discovery of another oil leak in a facility operated by oil major Shell.

Shell is currently investigating a possible leak on its Trans Niger oil pipeline that traverses Bodo community in Nigeria’s River state following an August 18 report, a spokesperson said on Monday.

The 180,000-barrel-per-day pipeline is one of two conduits that export Bonny Light crude.

“We are working with the community and other stakeholders to ensure we can safely look into and resolve this situation,” spokesperson Bola ‘Salt’ Essien-Nelson told Reuters following an enquiry.

You May Like

Trump Threatens 10% Tariff On Countries Aligning With BRICS

China Responds To Trump’s Tariff Threat Against BRICS-Aligned Countries

Oil theft and pipeline sabotage are common in the southern oil production heartland of Nigeria, Africa’s top crude producer.

The oil major blames most spills on pipeline vandalism and illegal tapping of crude.

This incident is coming after Nigeria resumed the export of about 220,000 barrels of crude oil per day at the Forcados terminal.

The terminal was shut for maintenance on July 12, 2023 when workers saw ‘fumes’ near a single buoy mooring where oil was being loaded onto a vessel.

The development contributed partly to the inability of Nigeria to meet the quota of the Organisation of Petroleum Exporting Countries, OPEC, during the period.

Consequently, the resumption of export at Forcados would impact on the nation’s total oil production, which fell by 13.6 per cent to average 1.08 million barrels per day in July 2023 compared to 1.25mbpd recorded in June.

According to the Nigerian Upstream Petroleum Regulatory Commission(NUPRC), August 2023 report, the latest production figure is a major setback for the government which has a production target of 1.69 million barrels per day in the 2023 budget. 

The volume of production is also significantly lower than the 1.7 million barrels per day production quota allocated to the country by the Organisation of Petroleum Exporting Countries(OPEC).

A closer look at the data released by NUPRC also showed that blended and unblended condensate oil daily production in July were 38,258 barrels and 174,509 barrels respectively. Condensate oil productions are not part of Nigeria’s OPEC production requirement.

In total, daily average oil production in July was 1.29 million barrels per day, a 12.8 percent drop when compared to total average daily production of 1.48 million barrels in June.

The NNPC Limited had said, it expects oil production to hit 1.8 million barrels per day by the fourth quarter of this year, as measures put in place to boost production begin to yield results.

Tags: SHELL
ShareTweetShare
Previous Post

OPS Calls For Liberalisation Of Petrol Import, Queries NNPCL, CBN Transparency

Next Post

NACCIMA Charges FG To Ratify AfCFTA Agreement For Economic Integration 

ANOTHER GOOD READ

Trump Cryptocurrency Drops Amid US Tariff Backlash
News

Trump Threatens 10% Tariff On Countries Aligning With BRICS

10 hours ago
China Hits US With Retaliatory Tariffs, Launches Probe Into Google Practices
News

China Responds To Trump’s Tariff Threat Against BRICS-Aligned Countries

10 hours ago
CBN Unveils New Liquidity Instruments For NIFIs
Business

CBN Clarifies BVN Fee For Nigerians In Diaspora

11 hours ago
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy
News

Fiscal Governance Lifeblood Of National Development— Tinubu

11 hours ago
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy
News

At BRICS Summit,Tinubu Demands Reform Of Global Financial, Health Systems

13 hours ago
LG Launches “Radio Optimism” Campaign
News

LG Launches “Radio Optimism” Campaign

20 hours ago
Next Post
NACCIMA Charges FG To Ratify AfCFTA Agreement For Economic Integration 

NACCIMA Charges FG To Ratify AfCFTA Agreement For Economic Integration 

Most Recent

Trump Cryptocurrency Drops Amid US Tariff Backlash

Trump Threatens 10% Tariff On Countries Aligning With BRICS

July 7, 2025
China Hits US With Retaliatory Tariffs, Launches Probe Into Google Practices

China Responds To Trump’s Tariff Threat Against BRICS-Aligned Countries

July 7, 2025
CBN Unveils New Liquidity Instruments For NIFIs

CBN Clarifies BVN Fee For Nigerians In Diaspora

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

Fiscal Governance Lifeblood Of National Development— Tinubu

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

At BRICS Summit,Tinubu Demands Reform Of Global Financial, Health Systems

July 7, 2025
LG Launches “Radio Optimism” Campaign

LG Launches “Radio Optimism” Campaign

July 7, 2025
Are Africans Genetically Inferior?

Are Africans Genetically Inferior?

July 7, 2025
Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

July 7, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy