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Oil Earnings Threatened as Explosion Rocks 450,000bpd Pipeline

Nigeria’s daily oil output might be affected following an explosion that rocked a section of the Trans Niger Pipeline in Bodo Community, Gokana Local Government Area of Rivers State.

The pipeline is owned by Renaissance Africa Energy Holdings. A media person in the Renaissance Renaissance Africa Energy Holdings said the company responded to an incident but could not confirm the cause of the blast.

The TNP transports 450,000 barrels of crude oil per day to the Bonny Export Terminal, using a pipeline network.

Renaissance Africa Energy Holdings just completed the landmark transaction between itself and Shell to acquire the entire equity holding in the Shell Petroleum Development Company of Nigeria.

Our correspondent gathered that the incident occurred late Monday night, igniting a fire that had been raging through the mangrove areas.

It was gathered that the incident occurred near Bodo-Bonny Road, which is currently under construction by Julius Berger Nigeria Plc through a joint funding partnership between Nigeria LNG Limited and the Federal Government of Nigeria.

A Renaissance spokesman, who did not want to be mentioned because he had yet to get approval to speak with the press, said the incident is being investigated.

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