Aiteo, Shell trade blames over 16m oil barrel theft

Aiteo Exploration and Production Company has alleged that the 16million crude shortfall recorded at the Bonny Export Terminal between 2016 and 2018 is owned by them and the federal government.

Aiteo is an indigenous oil firm that acquired Oil Mining Lease (OML) 29 for $2.4billion following SPDC’s 2015 divestment of its 45 per cent stake from the asset.

Mr Ndiana Matthew, the group head of media operations in Aiteo, in a statement said, “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 16million barrels of oil belonging to us and the Nigerian government.

“The crude is missing through their actions and activities.

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).”

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

Mr Bamidele Odugbesan, the media relations manager at the SPDC, described the claim as incorrect.

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

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