Shell Decry Loss of Over $1Bn to Oil Theft

Shell Petroleum Development Company Joint Venture (SPDC), has lamented increasing incidents of crude theft, vandalisation of its property, leading to huge revenue loss, amounting to over $1b.

According to it, the losses recorded in the last few months were perpetrated by operators of illegal refineries and vandals.
The Country Head/Director of Corporate Relations of SPDC, Igo Weli, disclosed in Owerri, Imo State, at the weekend when the outfit interacted with newsmen from Imo and Abia States to create awareness on the menace of crude theft, pipeline vandalisation and illegal refineries in the South South and South East. 
Weli who said the high rate of crude theft and vandalisation have resulted in human deaths in Imo, Rivers, Abia, and Bayelsa states, appealed to the people to desist from breaking pipes and oil spills. 
The Right of Way Law, which prescribes that structures should be erected 15 metres away from the pipeline areas, he emphasised, must be obeyed for the betterment of all parties and stakeholders.
Weli explained that despite the company’s operational imperfections being minimal, it would spend $1b on Ogoni Cleanup, just as he disclosed that no amount of intimidation would make the authorities deviate from its laid down rules.
He disclosed that the multi-billion naira Assa North Gas project in Ohaji /Egbema Local Council of the state was temporarily halted because of the activities of some youths who obstructed the operations.

Credit: The Guardian

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