Yenagoa — Nigeria Agip Oil Company (NAOC), a subsidiary of the Italian oil giant, ENI, has told the Bayelsa State government that due to the activities of bunkerers operating with sophisticated equipment, the company's oil production capacity has declined from 55,000 to 38,000 barrels per day in the state.
The company lamented that this new threat to the nation's economy is as bad as the activities of militants during the climax, adding that bunkerers break into the company's pipelines system and siphon oil undetected despite the presence of security operatives.
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