shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Oil Theft Allegations: Aiteo Says It Got Short-Changed Alongside FG Of 16 Million Barrels By Shell

Oil Theft Allegations: Aiteo Says It Got Short-Changed Alongside FG Of 16 Million Barrels By Shell

by Joshua
March 20, 2021
in Featured, News

Aiteo Exploration and Production Company on Friday, alleged that the 16 million crude shortfall recorded at the Bonny Export Terminal between 2016 and 2018 is owned by them and the Federal Government.

Group Head, Media Operations at Aiteo; Mr Ndiana Matthew in a statement, noted that Aiteo was being victimised for raising the alarm over the missing crude.

He alleged that Shell Petroleum Development Company of Nigeria (SPDC) operator of the Bonny Crude Export Terminal, was behind ongoing media reports to tarnish its image and that of Aiteo’s founder to divert attention.

“By doing so, the outcome will create unnecessary digressions and distractions from the current issues encapsulated by our demand that Shell accounts and pays for over 16 million barrels of oil belonging to us and the Nigerian government.

“The crude is missing through their actions and activities. Hitherto unchallenged evidence of this missing crude is exemplified by the discrepancies in the production figures independently reported by the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR).

“As is standard in the industry, DPR reports actually reconciled production volumes from the wells that flow to the terminal.

“Their records and statistics align with Aiteo’s reconciled production figures. NNPC, on the other hand, reports crude measured at the tanks in the terminal exclusively managed, operated and controlled by the IOC.

“It is the analysis of these independent reports that demonstrates the glaring discrepancies. Indeed, over the relevant three-year period, the figures from both government agencies.

“In 2016, NNPC reported 16 million barrels while DPR records showed 22 million, while in 2017, NNPC data showed 13.5 million barrels whereas DPR recorded 21 million barrels and in 2018, NNPC recorded 15 million and DPR 25 million barrels,” Aiteo stated.

It was learnt that the crude deficit between 2016 and 2018 reported at the Bonny terminal operated by SPDC had caused a dispute amongst several oil firms that used the oil export facility.

However, SPDC said allegations of involvement in oil theft at its Bonny Crude Export Terminal was misleading.

In a statement made available to newsmen, Mr Bamidele Odugbesan, Media Relations Manager at SPDC described the claim as factually incorrect.

“The crude theft and diversion allegation is also factually incorrect.

“This is a distinct issue that relates to the directive by the DPR to SPDC as operator of the Bonny Oil and Gas Terminal, an asset belonging to the SPDC Joint Venture to implement a crude reallocation programme between injectors into the SPDC JV’s Trans Niger Pipeline and injectors into the NCTL.

“Crude allocation review and reallocation is a normal industry practice to reallocate previous provisional allocated volumes under the directive and supervision of DPR and this is not an exercise resulting from crude diversion, underreporting or theft at the terminal.

“This industry practice is not peculiar to the SPDC-operated Bonny Oil and Gas Terminal alone and does not translate into any loss of volumes to the Federal Government of Nigeria.

“The reallocation issue was initiated by SPDC as operator of the Bonny Oil and Gas Terminal, while the DPR validated and confirmed it for implementation for the concerned oil producers.

“Crude oil production metering and allocation are subject to specific guidelines issued by the industry regulator, DPR, SPDC strictly adheres to these guidelines and the implementation is regularly verified by the regulator,” Odugbesan stated.

The SPDC, Belema Oil Ltd, Eroton E & P, Niger Delta Petroleum Resources, Total E & P and Walter Smith Petroleum Ltd used the NCTL to convey crude to the Bonny terminal and were proportionately affected by the deficit.

Aiteo, an indigenous oil firm, acquired OML 29 for 2.4 billion dollars following SPDC’s 2015 divestment of its 45 per cent stake from the asset.

OML 29 included the 97-kilometre NCTL which has the capacity to lift up to 180,000 barrels per day of crude from oilfields in Bayelsa and Rivers to the Bonny terminal.


Tags: AITEOFGShell

Related Posts

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025
Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

July 12, 2025
NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

July 12, 2025
NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

July 12, 2025

Discussion about this post

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition