Nigeria Oil Thieves Keep a Lid on Output Even as Bombs Abate

21 Jul 2017   Nigeria

The continual disruption blighting the impoverished delta region threatens plans to exceed 2 million barrels a day, according to Wood Mackenzie. (Bloomberg) — The Agbada 2 flow station should have been buzzing with activity, pumping crude to one of Nigeria’s largest export terminals. Instead it was idle in the muggy, mid-morning heat as Wilcox Emmanuel, the facility’s manager, shrugged in resignation about the thieves who’d shut him down. As much as 30 percent of the oil sent by pipelines through the swampy Niger River delta is stolen, consultant Wood Mackenzie Ltd. estimates. That’s depriving the country of income amid a crippling recession and compounding the pain of a global price slump for Africa’s largest producer. At Agbada, the wells dotting the surrounding forests had been closed for three weeks following a pipeline leak that was probably deliberate. “Who knows when we’ll be back up?” Emmanuel said. The 60,000-barrel-a-day flow […]

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