By JIMITOTA ONOYUME
PORT HARCOURT- SHELL has said Nigeria would lose about N800 billion to oil theft this year if the alleged on-going illegal refining and bunkering at the Nembe Creek Trunk line was not stopped by the Federal Government immediately.

Managing Director of the multinational giant, Mr.  Mutiu Sunmonu who made this known in Port Harcourt yesterday said that currently, the country loses about 140,000 barrels daily. This would mean that on the average, about 50,400,000 barrels would be  lost yearly to the illegal bunkering in the creeks, thus constituting a huge drain on the economy.

About 50,400,000 barrels of crude oil currently costs about yearly $4,880,232,000 or about N8000,358, 408,000 in the international market.
Sumonu urged the Federal Government to urgently provide security along crude lines in the area to save the country from further loss of revenue through such oil theft.
Describing the ugly situation around its Nembe Creek Trunkline as very worrisome and disturbing Sumonu said the government and other stakeholders should act decisively if the nation was to sustain oil operation in the region.

“I feel extremely saddened by what is happening, display of criminality, lack of care. I am extremely worried. Frankly, something has got to be done otherwise our operation in the region will not be sustainable. This is very worrisome,’’ he said.

Continuing, he said that the level of oil theft and illegal refining of crude in the region had constituted a major threat to the environment. “I am really worried about the danger to the environment,” he added.

According to him, there were a lot of international agencies that had indicated interest to develop the agricultural sector in the region but were reluctant investing in such projects because of the high level of criminal activities in the region.
Sumonu stressed that as a multinational oil firm, Shell would continue to do its best in the fight against oil theft and other related crimes threatening its operations, pointing out however, that the crusade should not be left to the oil giant alone.

“This is not a war that Shell alone can win, we need a coalition of efforts.’’

He further recommended creation of jobs and development of the region as steps towards resolving the problems, even as he explained that Shell had been actively involved in creating empowerment opportunities for people through various schemes and skill acquisition programmes.

“We need to create employment for people of the Delta. Government should work on both sides of development of the delta,” he added.

On alleged plans by a group, Movement for the Emancipation of Niger Delta, MEND to attack oil facilitiesin the region, the Managing Director called on youths in the area to uphold the rule of law by ensuring peaceful resolution of grievances following due process. Mr Sumonu however parried questions bordering on activities of MEND.