Nigeria's Oil Revenue climbs to N2.57bn as Shell opens TNP

Nigeria’s crude output and oil revenue is set to increase by 150,000 barrels per day and $16.05 million, about N2.568 billion daily, as Shell Petroleum Development Company of Nigeria Limited, SPDC,

yesterday, reopened a section of its Trans Niger Pipeline, TNP, gutted by fire three days ago.
According to a statement by Mr. Precious Okolobo, spokesperson for Shell, the reopening was as a result of the completion of repair works on the 28-inch line of the TNP, following the earlier reported fire at Patrick Waterside in Bodo, which a joint investigation team has confirmed was due to a hacksaw cut by unknown persons.
He, however, stated that while the 28-inch line which was shut on October 14, has been reopened, the 24-inch line which was shut on October 9 following leaks at B-Dere and Nonwa-Tai, remains closed. He also noted that the force majeure that was declared on Bonny Light exports on October 9 will be lifted as soon as possible.
He said: “While investigations showed that unknown persons had drilled a hole on the 24- inch TNP at B-Dere, the joint investigation on the Nonwa-Tai spill is continuing and expected to be concluded soon.
“However, preliminary findings indicate that the spill may have been caused by a failure on the pipeline. SPDC had quickly mobilised its oil spill response team to the site and contained the spread of spilled oil.
“Further remedial measures, clean-up and repairs are continuing. SPDC regrets this operational spill and is investigating the root cause of the failure.
“SPDC will continue to monitor the situation and the force majeure that was declared on Bonny Light exports on October 9 will be lifted as soon as it is operationally possible to do so.”
Shell, had on Monday, shut down a section of its Trans Niger Pipeline, TNP, due to a fire outbreak along the pipeline’s right of way.
In a statement announcing the closure, Shell said, “The entire TNP system, comprising the 24-inch line and 28 inch line had been closed on October 9 as a precautionary response to the spills, but the 28” TNP was reopened after investigations established that the leaks were on the 24 inch line only.

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