Business
Economic Trouble Looms as Nigeria’s Oil Production Threatened by Explosion at Key Pipeline
- The TransNiger Pipeline (TNP), a major oil transportation artery in Nigeria with a capacity of approximately 450,000 barrels per day (bpd), was struck by an explosion on Monday night near Bodo-Bonny Road in Gokana Local Government Area.
- The TNP is operated by Renaissance and the Nigerian National Petroleum Company Limited (NNPC) and is crucial for transporting crude oil from Niger Delta oil fields to export terminals, primarily the Bonny Export Terminal.
- The explosions at the pipeline have caused significant disruptions and raised concerns about environmental damage and economic losses.
Nigeria’s oil production and export capabilities have been jeopardized following explosions at vital oil facilities in Rivers State, raising concerns over potential negative impacts on the country’s foreign exchange earnings.
Eko Hot Blog reports that the TransNiger Pipeline (TNP), a major oil transportation artery in Nigeria with a capacity of approximately 450,000 barrels per day (bpd), was struck by an explosion on Monday night near Bodo-Bonny Road in Gokana Local Government Area.
EDITOR’S PICK
- 2,000 Epe Women Get Cash Support from Epe Council Chair
- Epe LG to Commission New Doctors’ Quarters, School Buildings
- Russia Launches Deadly Overnight Airstrikes on Ukraine Hospitals
Local residents reported hearing a loud sound followed by intense heat and flames, and plumes of thick smoke were visible from miles away.
The TNP is operated by Renaissance and the Nigerian National Petroleum Company Limited (NNPC) and is crucial for transporting crude oil from Niger Delta oil fields to export terminals, primarily the Bonny Export Terminal.
The explosions at the pipeline have caused significant disruptions and raised concerns about environmental damage and economic losses.
FURTHER READING
- “No Law Allows It” – Falz Condemns Tinubu’s Suspension of Rivers Governor
- Istanbul Mayor Imamoglu Arrested in Corruption Probe Days Before Presidential Nomination
- Rivers Crisis: What I Will Do To Address The Situation – Fubara
Although improved security measures had increased transported crude volumes to over 200,000 bpd in the six months preceding March 2024, factors such as oil theft and vandalism have previously hampered operations.
Click here to watch video of the week
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
