Nigeria ranks 4th in global oil supply outages With more than 200,000 barrels per day (bpd) of crude oil being lost to pipeline vandalism, crude oil theft and spills, Nigeria ranks fourth in the league of countries which contribute to global oil supply outages. According to estimates, total global outages amount to 3.15m bpd, about 3.5% of daily world oil demand of 90m bpd. Nigeria, Africa’s top oil producer, has had to grapple with an upsurge in crude oil thefts and force majeures, resulting in frequent production shutdowns and massive oil leakages in recent times Shell Petroleum Development Company Limited (SPDC), Nigerian subsidiary of oil giant Royal Dutch Shell Plc, has declared force majeure on gas supplies to Nigeria LNG. The company said the action was due to production deferment following a reported leak along the Eastern Gas Gathering System (EGGS-1) right-of-way near Awoba in Rivers State. Shell said in line with safety precautions, they have shut down the Soku and Gbaran Ubie gas export via the EGGS1 pipeline since Thursday. This has resulted in the shutting in of 1.5 billion standard cubic feet of gas per day (scfpd). For a limited time and subject to capacity limitations, they are able to export between 100 million and 200 million scfpd from Soku via the GTS.
Posted on: Wed, 11 Sep 2013 08:29:48 +0000
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