Nigeria a nation richly blessed with crude oil, and has one of the finest in the world. It is said Nigeria crude has little or no sulphur. Here is a report reaching US, that Oil production in the country has dropped by 150,000 barrels of oil per day following the shut down of the Trans Niger Pipeline by Shell Petroleum Development Company.
The Corporate Media Relations Manager, SPDC, Mr. Precious Okolobo, said in a statement on Monday that company had deferred about 150,000 barrels of oil and 500 million standard cubic feet of gas per day as a result of oil theft.
He also said SPDC had declared force majeure on Bonny Light exports and gas supply to the Nigerian Liquefied Natural Gas company effective September 23, 2013.
This development, according to the statement, is linked to oil theft, which is denying the Federal Government of about $7bn annually..
