The renewed attacks on oil installations in the Niger Delta region by militant groups, have caused most oil producers, especially the indigenous operators to have zero oil production and zero revenue in the process, The Nation reports.

The Managing Director/Chief Executive Officer, Seplat Petroleum Development Company Plc, Mr. Austin Avuru who spoke yesterday in Lagos at the annual conference of the Society of Petroleum Engineers (SPE) Nigeria Council, said operators are no longer bothered by the drop in crude oil prices because there is nothing to produce and export for sale. He added that about 70 per cent of the nation’s oil production from the traditional terrain of onshore and shallow water had been locked in.
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