Mart Resources Inc MAUXF

RE:RE:https://uk.finance.yahoo.com/news/nigerias-forcados-oil-pipe

[mjh9413]

The Forcados situation is not stabilised...local article: Jan 25th Abuja — The Trans-Forcados pipelines which carries crude oil from production facilities to export terminals in Forcados has been attacked four times by vandals and oil thieves, since the beginning of this year alone. Executive Director, Gas and Power, Nigerian National Petroleum Corporation (NNPC), Dr. David Ige who disclosed this in Abuja at the weekend noted that besides the loss of thousands of barrels every day, about 1000 million cubic feet per day of gas are lost too. Ige explained that the loss of gas from the pipelines means several power plants are also shut down. "We have had the vandalisation of Trans Forcados Pipeline almost once every week for the last couple of weeks and it is not just a recent outage. From the first of January this year and today, the pipe has been vandalized, we fixed it and it is vandalized again and again and we are in the fourth phase of fixing the pipe in three weeks and that is not just the beginning because it has been like this consistently for many months. Usually, the guys go there and drill holes and in some cases, they kill some security operatives that try to stop them. The implication of the Trans Forcados is that it is a major artery that evacuates most of the crude oil from production facilities at Oben, Sapele, Utorogun and others to Forcados which is the main export terminals. "The implication of that is that whenever this pipeline is out, we lose gas production from Oben, Sapele, Oredo and Utorogun and that immediately accounts for almost 40-50 per cent of our entire gas production in the country and it takes us quite sometimes to repair because typical repairs take about four to five days, depending on how many holes we find and sometimes after repairing we realise that additional holes have been drilled somewhere because what happens is that when you want to repair the pipeline, you have to depressurize it and that now gives them additional time to drill more holes somewhere down the line and different from where the original attack had happened", explained. These Nigerian politicians and their army are just impotent.