FG, IOCS LOSE N684BN TO OIL PIPELINE SHUTDOWN
Written by thereachfm on March 8, 2019
Eight months after the shutdown of the Trans-Ramos Pipeline, the Federal Government, and some oil companies are said to have lost about $1.9bn in potential revenue from the sale of crude oil.
Meanwhile, Shell Petroleum Development Company of Nigeria Limited announced on May 25 last year that it had shut down production following the discovery of leaks on the pipeline, which is located in the swamps of western Niger Delta.
The Trans-Ramos Pipeline, which supplies crude oil to the SPDC JV-owned Forcados export terminal, has a capacity of around 100,000 barrels per day.