Shell’s subsidiary in Nigeria says the oil giant is losing 10,000 barrels of oil a day to thieves in the Niger Delta region at a cost of $560,000 a day.
The losses by vandals attacking oil pipelines are equivalent to $204.4 million over a year.
General Manager of the Shell Petroleum Development Company of Nigeria, Igo Weli, which is a joint venture between Shell and the Nigerian government announces this at a workshop on pipeline vandalism in Port Harcourt.
He says since 2012 the company had discovered and removed 1,160 points where thieves were stealing the oil.
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