Olumide Adesina•Wednesday, March 19, 2025•1 min read
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Nigeria’s Trans Niger Pipeline a vital oil route that carries crude from onshore oilfields to the Bonny export terminal was closed amid an explosion, according to police on Tuesday. The Nigerian oil consortium Renaissance Group confirmed the blast in the coastal state of Rivers State and sent a team to look into it.
Renaissance Group currently owns Shell’s former onshore subsidiary and controls the pipeline.
The Trans Niger Pipeline is one of two routes that export Bonny Light crude from Nigeria with a daily capacity of about 450,000 barrels. The explosion’s source remains unidentified at present, yet local media conjectures a possible correlation with threats posed by militant organizations intending to disrupt oil production facilities.
The pipeline managed by Shell has been subjected to attacks by militants and saboteurs, causing substantial financial setbacks.
Regional leaders have asked the federal government to give them a large junk of Nigeria’s oil revenue. militant organizations have threatened to stop oil production until their demands are fulfilled.
Nigerian consumers face petroleum shortages despite being in one of the world’s most oil-rich countries, as most crude oil is exported.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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