Agip Rescinds Plans To Pull Out Of N’Delta

Coordinating Minister of Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala (left), with president, Global Distance Learning Institute, Abuja, Prof. Manny Aniebonam, during the inauguration of the institute in Abuja, recently.

The Italian oil giant, Eni has dismissed plans to pull out of Nigeria’s oil industry after discussions surfaced following a heightened spate of crude theft and vandalism of facilities of Nigerian Agip Oil Company (NAOC) in the country.
Italy’s largest industrial company by value has shut down operations severally in the Niger Delta as oil bunkering and pipeline vandalism has constantly posed a threat to its business.
It’s Chief Executive, Paolo Scaroni, recently confessed that Eni was harbouring thoughts of pull out from the Niger Delta, stating to the Italian parliament that “we are thinking, we thought of leaving Nigeria.”
A spokesperson for the oil and gas multinational firm, however, disclosed that such plans have now been put to bed, noting that “it was not now an option under consideration.”
Reports have revealed that Nigeria has lost more than N17trillion ($103.8 billion) since 2009 to illegal activities, forcing international and local organizations to fold up or suspend operations temporarily.