Italian oil firm suspends operations in Bayelsa over alleged theft

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Oil theft in nigeriaAn Italian oil firm, Eni,  Monday, shut down its activities in the swampy oil fields located in Bayelsa State, over alleged theft.

The firm, in a statement in Yenagoa, attributed the frequent spills to alleged oil theft by vandals and said that it had decided to shut down operations to prevent further damages to the environment.

Eni, which operates in Nigeria as Nigeria Agip Oil Company, NAOC, said it authorised the suspension of operations on March 22 and subsequently declared Force Majeure on its oil output from the facility on March 23.

“Force Majeure is a legal notice that absolves an oil firm of liabilities for failure to meet supply obligations to crude buyers due to circumstances beyond the firm’s control.

“Eni confirms that between March 21 and 22, the company declared force majeure and ordered the closure of its onshore activities in Bayelsa State, Nigeria.”

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