Pipeline losses abate in 2014’ -Mart Resources boss Independent oil producing firms operating in the country have admitted reduction in the crude oil Losses through pipeline vandalization at the end of second quarter of this year . The Chairman and Chief Executive officer of Mart Resources, Wade Cherwayko, who confirmed the development in Lagos said that the incident was abated in some parts of the Western Niger Delta within the period under review . According to him “during the six months ended June 30, 2014, the Umusadege field was shut down for a total of 44.5 days”,. This is a sharp drop from 74 days of shut down in the same period in 2013, “due primarily to various disruptions, repairs, and maintenance to the export pipeline and export facility”. He further said Mart’s share of average daily oil produced and sold for the six months ended June 30, 2014 from the Umusadege field was 6,047 barrels of oil per day compared to 3,827 barrels for the six months ended June 30, 2013.
Posted on: Thu, 28 Aug 2014 09:29:28 +0000