Business
TFT Shutdown Records N225 Bn Loss
Nigeria has lost about N225 billion ($1.5 billion) in just five months that the Trans-forcados Trunidine (TFI), a gas facility owned by Shell, was shut down, The Tide gather ed at the weekend.
The huge loss was as a result of persistent attacks on the facility, which has dipped the gas supply to major power stations in the country, frustrating the Federal government’s efforts on 6,000 MW promised.
A letter written by the Managing Director of Shell, Mutiu Sunmonu, to the Delta State Governor, Emmanuel Uduaghan, which was obtained by our correspondent, showed that eight additional damages has been done on the trunk line.
Sunmonu, in the letter maintained that the current total production from Delta State is about 30,000 bbls as against a capacity of 300,000bbls.
The letter read: “We refer to your last meeting of Friday, December 4th at your office where I reported the massive damage inflicted on the above mentioned facility.
It is with deep regret that I wish to further inform you that rather than abate, the damage to this line continues.
Sunmonu continued: “As of today, December 18, 2009, we have confirmed additional 8 recently damaged points on the TFP.
“Your Excellency, this is most frustrating and to say the least a huge loss to the nation as well as Delta. In real terms, the TFP, which has been out of service since June 2009, has recorded a loss of Circa 20 million bbls, equivalent of $1.5billion loss of revenue to the nation.
“The current total production from Delta State is about 30,000bbls as against a capacity of 300,000bbls.
“Apart from this, there is a threat to gas supplies from Utorogu, Oben, Sapele and Ughelli East, as current practice of transferring condensate through the UPS to WRPC is not sustainable for operational, technical and safety reasons.
“I shall continue to count on your invaluable support to arrest this development before it drives us back to pre-amnesty levels.
“We have delivered on all action points agreed upon at our December 11, meeting and would be expecting the other parties to up their game and also deliver on their part of the agreement.”
Business
NCDMB, Dangote Refinery Unveil JTC On Deepening Local Content
Business
Food Security: NDDC Pays Counterpart Fund For LIFE-ND Project
Business
Replace Nipa Palms With Mangroove In Ogoni, Group Urges FG, HYPREP
-
Politics4 days ago
Civic Duty, Not Politics Necessitated My Engagement With Abacha – Obi
-
Niger Delta4 days ago
Cancer Risk: HYPREP, IARC Launch Human Biometric Study in Ogoniland
-
Women4 days ago
What To Know About Fufu, Loi Loi
-
Sports4 days ago
Former Champion Seeks Title Defence At Para Table Tennis Tourney
-
Rivers4 days ago
Don Sues For Leadership Assessment Centre In IAUE
-
Niger Delta4 days ago
Commissioner Explains Oborevwori’s Retirement Age Extentoon For Associate Profs
-
Business4 days ago
Cassava Flour Initiative Revival Can Up Economy By ?255b – COMAFAS
-
Sports4 days ago
Eagles B Players Admit Pressure For CHAN Qualification