http://www.tribuneonlineng.com/attack-on-oil-facilities-fg-panics-as-nigeria-loses-n144bn-daily

The NDA has vowed to ensure that crude oil production is brought to zero level in the country until its demands are met.

Buhari was believed to be seeking Jonathan’s help to bring the crisis to an end and spare the nation’s economy of unwarranted damage.

In an apparent move to prepare the ground for this meeting, the president had in recent days been speaking glowingly about the former president whose activities in office have been the subject of investigations by the Economic and Financial Crimes Commission (EFCC).

Buhari had engaged in praising Jonathan over the defeat concession phone call the latter made to him before the final tally of the 2015 presidential election result was known.

President Buhari also, on Friday, hosted former President Olusegun Obasanjo to a secret meeting at the Presidential Villa, Abuja.

The meeting, which took place inside the president’s office, lasted for about 30 minutes.

A government source expressed worries to Saturday Tribune over the spate of attacks on the pipelines and the effect on the 2016 budget.

“Two months from now, the effect will be known. What we are sharing now is money that accrued to our accounts about three months ago when there was relative stability in the oil sector. So, the effect of these militant activities will be known in August. It is very worrisome.

“You know those militants have almost crippled the oil industry, destroying an average of two major pipelines per day. By next month, states that will be able to pay salaries may not be more than five,” he said.

Vice-President Yemi Osinbajo, during the week, put Nigeria’s output at 1.6 million barrels per day (bpd) while the Avengers claimed they had reduced Nigeria’s output to 800,000 bpd.

The Head of Research, Ecobank Plc, Dolapo Oni, stated that Nigeria’s oil production had suffered a deficit of record 1.01 million barrels per day, raising the revenue losses by the country and the IOCs to N14.1 billion ($49.5 million) daily.

If the government is to be believed, the country is losing 600,000 bpd which is equivalent to N8.4 billion ($29.4 million) daily. On the other hand, going by the claims of the NDA, the country is losing 1.4 million bpd which is equivalent to N19.5 billion ($68.6 million) per day. The above calculations were based on N285 to $1 and crude price was based on $49 per barrel.

Nigeria’s quota from the Organisation of Petroleum Countries (OPEC) is put at 2.2 million bpd. This means Nigeria is allowed to sell officially 2.2 million bpd at the crude oil international market.

According to a source at one of the loading terminals who pleaded anonymity because he wasn’t authorised to speak to the media, “production is not as low as it was in 2008 when we were producing at about 700,000 bpd. But the activities of the NDA are taking their toll on the country’s output.”

Oni argued further that the crude production in Nigeria, hitherto the biggest crude producer in Africa, had now dipped to about 990,000 barrels per day.

In a more drastic estimate of the economic implication of attacks on oil and gas installations, Oni, according to Reuters, said: “Between pipeline repairs and militant attacks, Nigeria is probably producing no more than 990,000 barrels of oil every day.”

The Avengers, on Friday, attacked Shell Petroleum Development Company’s Forcados 48, Export line and the Brass to Tedibaba crude pipeline in Bayelsa.

Also, the Avengers, in a tweet Friday afternoon, warned an oil company, Agip, not to repair its damaged pipelines.

“We are sending this warning message to Agip not to commence repair works on any of the blown pipelines in Bayelsa. We will make you regret if you even dare us,” the group said.

The militant group claimed responsibility for the attack on its Twitter handle.

“At 3:00 a.m. today @Niger Delta Avengers blew up the SPDC forcados 48, Export line. We warned SPDC not to go ahead with repair works but they refused,” said the group.

It had on Thursday claimed responsibility for the bombing of pipelines conveying crude oil from Ogboinbiri to Tebidaba and from Clough Creek to Tebidaba. The two pipelines are located in Bayelsa State.

“At about 2.00 a.m. today @Niger Delta Avengers blew up the Ogboinbiri to Tebidaba and Clough Creek to Tebidaba Crude Oil pipelines in Bayelsa State. This is in line with our promise to all international oil companies and indigenous oil companies that Nigeria’s oil production will be zero,” the group said on its Twitter handle.

A top military officer at Forcados at the time of the destruction confirmed the incident, saying it was another trying period for the company, which only recently carried out repairs on it.

“The blast was deafening. It sent jitters down our spines. We thank God there is no casualty,” the source noted.

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“Two months from now, the effect will be known.
What we are sharing now is money that accrued to our accounts about three months ago when there was relative stability in the oil sector. So, the effect of these militant activities will be known in August. It is very worrisome

Does this mean that ....... June 2015 to ..... PDP/Jonathan? Bailout money .... (that's btw)

Nigeria now sells her crude on credit to India, others to be paid installmentally in three months.

I thought improvements in international relations is on high since Buhari became tourist. Lesson: they don't love us, all the do is to babble with their mouth during press conferences and later give reasons on phone how they are constrained and wouldn't help.

My suggestion: It is more convenient for Nigeria to give one year amnesty to looters who carted Nigerian money abroad if they can pull these monies back to Nigeria and invest them here before the expiration of one year window. We will be better developing our country than begging foreigners to come and do so when our monies are invariably developing their respective countries.

the 5% feed the 97% what an irony and you still talk I'll of them stupid president mumu hamudu Dan alede.

Calling GEJ to go negotiate on behalf of FG won't work this time, don't even dare GEJ. They already made their demands, FG should see to it dat it's met.

So Buhari is now seeking the help of Jonathan? eh kwa? Buhari, u caused it all. From your infamous statement of making the country ungovernable for Jonathan to Dogs and Baboons soaking in blood to the 5% statement credited to u. Those statement smirk of hatred. Pls tell me, who is having the last laugh now? I think u should release Nnamdi Kanu and pacify him not because i love him nor am i his devotee. Infact, since i heard he advised our men to go for polygamy, i have got a second thought about him but he was able to pull a great crowd of followership within hours, he is the only one that can pacify the avengers not Jonathan. Allow Mr former president to enjoy his retirement in peace.

good for d dullard.....

The new Sheriff is in town. APC Fanatics

Ekwensu, e kiss e buhari!!!!!


14billion lost for 2months is 840billion, abeg, how much is our budget?

6trillion divided by 12months is 500billion, and we are loosing close to a trillion in 2months, that means, 2016 budget is not implementable.

Head of Research

President

Governor

Ha nine, na enu Crude Oil from Ijaw, Uhrobo, Itsekiri, Annang, Ibibio, Efik and Igbo Land

Ndi OSHI

Ndi ara

Zero Production, Free money is over, Stolen Crude Oil is over . . . .Go back to farm

If you want to host koran recital or buy a new wife for Emir Sanusi, you better be ready to plant some groundnut

The future of Niger Delta is Tourism and Conservation

Cc: lalasticlala, dominique, Mynd44

Such needless losses, just has it been the government had even a little clue. SMH

Hehehe

God help my country

Send more soldiers

And when them no lose nkor??

A totally avoidable loss.

I've always said it "Nigeria is a failed state." TBH, I'm not in support of this blowing up of pipelines and facilities in our region but, what to do when you and I know that no President in Nigeria will ever listen to a diplomatic approach? I may agree with you if you say that these sets of militants masquerading themselves as NDA, JNDF and what have you....are selfish but let us not be oblivious of the fact that these sets of element will keep emerging from the streets and the creeks of the Niger Delta region unless the problems facing our homes and environment are dealt with once and for all. If Buhari decides to engage these boys in a head to head fight, well son, I hope you know whose side of the divide has been counting losses. I keep telling people, these boys are not your average militants.

###############################

Liars have no memory!

----> CBN Will Publish Names Of Treasury
Looters Soon – Buhari on Channels Television (December 11, 2015)

-----> I will name looters of Nigeria’s money on
May 29 – Buhari(May 14, 2016.)

----->FG Will Release List Of Looted Funds, Not
names Of Looters- Lai Mohammed.(May, 30
2016.)

Which do we believe?

Dialogue with the militants he is forming retired coward (soldier). He doesn't listen to reason at all. O... I forgot, he has ear infection caused by lie muhammed lies and blame game.