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Nigeria's Mosimi oil depot resumes loading after almost one year
April 10, 2017 / 12:44 PM / 8 months ago

Nigeria's Mosimi oil depot resumes loading after almost one year

ABUJA, April 10 (Reuters) - Nigeria’s Mosimi oil depot has resumed loading after almost a year, when a major pipeline was vandalised last May, the state oil company said on Monday.

The resumption of loading could help the Nigerian National Petroleum Corporation (NNPC) cut losses that stemmed from the damage, as trucks had to drive from Lagos to replace the pipeline, said Maikanti Baru, group managing director of the NNPC, in the statement.

The NNPC also plans to bring back online pipelines from the city of Kaduna to Kano, Jos and Suleja, Baru said, though he gave no further details.

Theft, sabotage and other attacks on oil product pipelines are a major problem for the NNPC. Last year, militant attacks on facilities in the Niger Delta region cut Nigeria’s oil production by as much as a third.

Nigeria’s government relies on crude exports for roughly two-thirds of its revenue. (Reporting by Paul Carsten; additional reporting by Libby George in London; editing by Jason Neely)

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