Monday 13 June 2016

GOVERNMENT LOSES N10B DAILY TO OIL FACILITIES’ ATTACK

pipelineWith the series of attacks carried out by the Niger Delta militants in the last few weeks, the country’s crude oil production has dropped to about 1.1million from the normal output level of 2.2 million barrels per day.

Using the international benchmark of crude oil price of $50 per barrel, the Federal Government is losing $55 million or about N10 billion daily as the militants vow to continue to destroy oil facilities in the Niger Delta.

Read more @ The Guardian

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