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Sections News Editorial/Opinion Cover Choice Arts & Life Business Politics Sports   Subscription Form Click here       Daily Independent Online.         * Monday, July 05, 2004. SPDC loses 43m barrels of oil By Charles Okonji Snr Business Correspondent, Lagos Shell Petroleum Development Company of Nigeria Limited (SPDC) lost 45 million barrels of crude last year due to the shutdown of its facilities because of the crises in the Niger Delta. About 43 million barrels, representing 95 per cent, were lost because of the shutdown of facilities in the oilfields in the northern swamp area of Warri, Delta State.The remaining five per cent was due to oil spillage. SPDC, which disclosed this in its 2003 People and Environment Report, said that it also suffered about 88 crude oil theft incidents, resulting in the loss of an estimated nine million barrels of oil, as against six million barrels recorded in 2002 and deferment of another 13.8 million barrels. The company said: “We regularly reported these incidents and their impact to the Federal Government, which responded by improving and expanding the level of security patrols on the waterways. This led to a number of arrests and seizure of ships and barges, but the generally high crime level in the Niger Delta remains a concern.” Besides, SPDC recorded about 78 security incidents, most of which were robbery cases against its staff. Eight cases involved the use of arms. Security incidents in 2002 were 74, while the cases that involved the use of arms were five. However, 20 cases of hostage taking were recorded, a reduction on the 2002 figure of 24 cases. The company, however, said that it witnessed a reduction in community disturbances like shutdown of flowstations, blockade of rigs and stoppage of construction work, among others, from a high of 282 in 2002 to 160 in 2003. It said: “Similarly, the total number of project days lost due to community disturbances were also lower at 382 in 2003, compared with 1,702 in 2002.” SPDC pointed out that it operated under very tight budgetary conditions last year. It proposed a full oil and gas growth programme budget for the joint venture of $2.7 billion, but the Federal Government, a senior joint venture partner, approved $2.3 billion. As a result of this, the company deferred some major oil and gas development projects and reduced its community development budget.       Copyright� 2002. All Rights Reserved Independent Newspapers Limited Block5, Plot 7D, Wempco Road, Ogba, P.M.B. 21777, Ikeja, Lagos State, Nigeria. www.dailyindependentng.com e-mail: [email protected]

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