Oil theft activities affect IOC's in Nigeria

Oil theft activities affect IOC's in Nigeria

As bunkering activities continued unabated in the Nigerian oil industry, two oil multinational firms at the weekend announced the suspension of their activities in order to take stock of the losses and to review their operations in the country.
Last Friday, Shell Petroleum Development Company of Nigeria, SPDC had declared “force majeure” on its oil exports, as it plans to shut down operations on its Nembe Creek pipeline system to enable it effect repairs on some sabotage portions.
Italian oil giant, ENI on Saturday reportedly announced the suspension of its activities in Bayelsa State due to frequent thefts from pipelines.

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