Nigeria’s Mosimi oil depot resumes loading after almost one year

0
802
Dismantling and Reconstruction of Tank 13 and Rehabilitation of Tanks 11, 12 and 22 at NNPC Mosimi Depot

ABUJA, April 10  – Nigeria’s Mosimi oil depot has resumed loading after almost a year, when a major pipeline was vandalised last May, the state oil company said on Monday.

The resumption of loading could help the Nigerian National Petroleum Corporation (NNPC) cut losses that stemmed from the damage, as trucks had to drive from Lagos to replace the pipeline, said Maikanti Baru, group managing director of the NNPC, in the statement.

The NNPC also plans to bring back online pipelines from the city of Kaduna to Kano, Jos and Suleja, Baru said, though he gave no further details.

Theft, sabotage and other attacks on oil product pipelines are a major problem for the NNPC. Last year, militant attacks on facilities in the Niger Delta region cut Nigeria’s oil production by as much as a third.

Nigeria’s government relies on crude exports for roughly two-thirds of its revenue.

 

SHARE
Previous articleStan Kroenke is responsibile’ for Arsenal FC’s problems, claims Alisher Usmanov
Next articleUPDATED: Nigeria shortens FX settlement period as naira weakens against the dollar
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.