The Nigerian National Petroleum Corporation (NNPC) said Tuesday that Nigeria lost 300,000 barrels of crude oil per day or 109.50 million barrels in 2013 from severe attacks on critical export pipelines. The NNPC Group Managing Director (GMD), Mr. Andrew Yakubu, gave the figures at the ongoing Nigeria Oil and Gas conference in Abuja, reported the News Agency of Nigeria (NAN). Yakubu said incessant vandalism of crude oil export pipelines and domestic crude oil and petroleum product pipelines impacted negatively on the economy. According to him, what Nigeria lost in 2013 was equivalent to the total output of Equatorial Guinea and larger than the entire production of Ghana, Congo Brazzaville, Cameroun and Gabon. Yakubu said the shut-ins of such significant production had prompted the federal government to take some drastic actions to tackle the […]