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TMCNet:  Nigeria loses over $2bn to pipeline vandalism [Agence de Presse Africaine]

[July 13, 2014]

Nigeria loses over $2bn to pipeline vandalism [Agence de Presse Africaine]

(Agence de Presse Africaine Via Acquire Media NewsEdge) The Pipeline and Products Marketing Company (PPMC), a subsidiary of the state-run Nigerian National Petroleum Corporation (NNPC) has said that about $2.5 billion was lost to pipeline vandalism between 2008 and 2013.Mr. Haruna Momoh, the Managing Director of PPMC, told journalists on Saturday in Uyo, the capital of Akwa Ibom, in south-eastern Nigeria during a workshop that the company recorded increased sabotage of the pipelines within the period.


Momoh, who was represented by an official of the company, Mr. Frank Amedo said that from about 497 pipeline break points recorded in 2009, the number of breaks increased to 3,591 in 2013 and that pipeline vandalism should now be considered as security risk and economic sabotage.

Meanwhile, the NNPC says it plans to resume legal bunkering of crude oil in the country before the end of the year.

The Group Managing Director of the Corporation, Mr. Andrew Yakubu told the workshop that the NNPC was waiting for clearance from the authorities to commence operations in crude oil bunkering by October this year.

(c) 2014 Agence de Presse Africaine (APAnews). All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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