ABUJA: Nigeria crude oil export is set to increase by about 150,000 barrels per day, as Shell Petroleum Development Company, SPDC, announced the reopening of the Nembe creek crude oil pipeline, which was shut down due to sabotage.
Using the current crude oil price of $55 per barrel, this will translate to an increase of $8.25 million, about N1.403 billion in Nigeria’s daily crude oil earnings.
The pipeline, according to a spokeswoman for Shell which carries the Bonny Light crude oil for export, was reopened, weekend.
The pipeline was closed January 17, 2015 due to a leak, with the SPDC removing five oil theft connections during the closure.
