An average of 700,000bpd of unrefined petroleum was conceded in 2016 because of pipeline disrupt, this brought Nigeria's generation down to as low as 1.3 million barrels for every day from 2.2 million barrels focused for the period.
At a normal cost of $52 per barrel, the nation varied about $13.286 billion (N4.05 trillion).
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, expressed this in a keynote address at the lady version of the Nigerian International Pipeline Technology and Security Conference (NIPITECS 2017) in Abuja yesterday.
He said Year-To-Date 2017; NNPC had recorded 27 breaking episodes on the Trans Niger Pipeline (TNP), including that for the Trans Forcados Pipeline (TFP) with a limit of 300,000bpd, 17 ruptures were recorded in 2016.
NNPC additionally endured no less than 15 rupturing occurrences on the TFP, while charging individuals from the Pipeline Professionals' Association of Nigeria (PLAN) to direct an orderly determination of the pipelines framework in Nigeria and think of manageable and noteworthy answers for the hazard of pipeline vandalism in the nation.
He encouraged every key player to rally round the pipeline experts to proffer answers for the pipeline vandalism challenge as it represented an awesome danger to the Nigerian economy as far as income misfortune and natural debasement.
He recorded a portion of the measures conveyed by NNPC to stem the tide of pipeline vandalism to include: Horizontal Directional Drilling (HDD) innovation to cover pipelines more profound to counteract simple availability; innovation based pipeline observation instrument with ability to identify, caution and deny access; and flying checking and marine watches by the Military Joint Tax Force (JTF).
Baru additionally said government was working out a political answer for the socially incited unsettling damage while the law implementation offices had been enabled to manage the individuals who participate in pipeline vandalism out of culpability, for example, oil robbery.
Talking prior on the hugeness of the meeting, Chairman of PLAN, Geoff Onuoha, said considering the basic part of pipelines to the whole esteem chain of the oil and gas industry, there was requirement for a gathering like NIPITECS to unite experts and partners to conceptualize and share information and innovation.
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, said the Board was striving to help nearby creation of channels, including that its endeavors were at that point yielding profits as Nigeria now has two world-class pipe processes in full operation.
On his part, the Director General of Infrastructure Concession Regulatory Commission (ICRC), Chidi Izuwah, tested industry players to take advantage of the open doors in Public Private Partnership (PPP) to support pipeline and different foundations in the nation.