The General Manager of Shell Petroleum Development Company of Nigeria, Mr Igo Welli has identified crude oil theft, pipeline vandalism and illegal refineries as the reason for issues limiting Nigeria\u2019s development.<\/p>\n\n\n\n
Welli who said this during a one day engagement with media professionals from Imo and Abia states on Saturday noted that the country has not benefitted from the recent hikes in oil price as a result.<\/p>\n\n\n\n
He listed some of the problems arising from the issues to include exorbitant foreign exchange rates, unemployment and poor infrastructure.<\/p>\n\n\n\n
He added that a large percentage of the National budget is diverted to clean up targeted at reducing the effects of oil spillage caused by pipeline vandalism.<\/p>\n\n\n\n
The general manager warned that the issues could lead to the company\u2019s withdrawal from the country as their productivity and profits have been limited by crude theft and illegal refineries.<\/p>\n\n\n\n
\u201cThe issue of illegal refineries, crude oil theft and pipeline vandalism has resulted in pipeline leaks which lead to a shutdown of our facilities to reduce impact on the environment.<\/p>\n\n\n\n
\u201cThe oil bunkering has equally put the lives of our staff at risk and projects which pose threats to our staff have been paused, our productivity and profits have been limited as a result.<\/p>\n\n\n\n
\u201cThis means Nigeria has not benefitted from the hike in oil prices because the benefits are hijacked through crude theft and vandalism which is the main reason for the issues facing the country,\u201d he said.<\/p>\n\n\n\n
He therefore called for improved security presence and coverage in the project areas to limit bunkering activity and the need to chart a new way for improved productivity.<\/p>\n\n\n\n
Welli equally called for sustained government participation and support for project delivery.<\/p>\n\n\n\n
Also speaking during the programme, the Remediation Lead, Mr Ivan Okoye said the country has lost at least $1bn in revenue in the first quarter.<\/p>\n\n\n\n
While speaking on the implications of crude theft and illegal refineries on the environment, Okoye stated that there are at least 150 oil bunkers in Ohaji Egbema.<\/p>\n\n\n\n
He added that as a result of the activities at these bunkers, the company is constantly engaged in removal of contaminants from the soil and water.<\/p>\n\n\n\n
He however lamented the removal which lasts as long as 200 days is sometimes affected by reimpacts from fresh spills leading to air, water and soil pollution and endangerment of health.<\/p>\n\n\n\n
Also speaking, the Lead on Encroachment Management, Mr Lanre Abiola equally noted that the company has put up relevant signage, movement barriers and breakers along all areas where they have right of way which has not stopped crude theft.<\/p>\n\n\n\n
Abiola stressed the need for proactive engagement with government agencies and awareness campaigns and workshops on the risks associated with bunkering and pipeline vandalism.<\/p>\n\n\n\n
He equally urged relevant stakeholders to raise awareness to save lives, prevent damage to pipelines and save the environment.<\/p>\n\n\n
The General Manager of Shell Petroleum Development Company of Nigeria, Mr Igo Welli has identified crude oil theft, pipeline vandalism and illegal refineries as the reason for issues limiting Nigeria\u2019s development. Welli who said this during a one day engagement with media professionals from Imo and Abia states on Saturday noted that the country has […]<\/p>\n","protected":false},"author":2,"featured_media":19224,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949,908],"tags":[162],"class_list":["post-44147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-oil-gas","tag-oil","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n