The federal government and the oil and gas-producing companies operating in the country may have lost about $3billion to the bombing of Forcados pipeline that conveys Forcados grade of crude oil to the 400,000 barrels per day Forcados Export Terminal, THISDAY’s investigation has revealed. Shell Petroleum Development Company (SPDC) and other upstream companies operating in the western Niger Delta evacuate crude oil and condensates through the 48-inch subsea Forcados pipeline to the export terminal. Following a spill that occurred on February 14, 2016 on the subsea crude oil export pipeline, Shell had on February 21, 2016 declared force majeure on Forcados liftings effective 1500hrs (Nigerian time), due to the disruption in production. The company had also intensified efforts on containment and oil recovery, while also finalising repair plans, which the Minister of State for Petroleum, Dr. Ibe Kachikwu, had initially said could be completed by May 29. A new […]