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Business Day (Nigeria): Shell records 89 crude oil thefts in 2006

August 14th, 2007

Shell Petroleum Development Company (SPDC) has recorded 89 incidents of crude oil theft from its facilities in 2006, with 207 persons arrested.

Also, 48 tankers, 21 vehicles and 18 barges were impounded by the security agents.

These were contained in a document made available to the News Agency of Nigeria (NAN) in Warri. The document says the thefts represented an average oil loss of between 16,000 and 24,000 barrels a day (b/d).

In spite of the degree of loss, the thefts were less than that of 2005, which was between 20,000 and 40,000 b/d.

The community related disruptions last year were down to 117 in 2005, as against 154. Although, the number of the disruptions was low compared to 2005, the severity increased with 3.6-million barrels loss in 2006.

It attributed the severity to destruction of pipelines, manifolds, field bases, wells and the crude loading platform.

Central Bank of Nigeria estimated the loss to militant attacks at 600,000 b/d in 2006, indicating a 4.67 percent decline in the oil sector.

The Federal Ministry of Finance had put government loss at N570-billion in 2006.

http://www.businessdayonline.com/?c=132&a=15466

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