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Tag: Oil theft

Army discovers stolen 1m litres crude oil in Rivers
Oil and Gas

148 crude oil theft reported in one week – NNPCL

There were 148 occurrences of crude oil theft registered between September 2 and August 8, 2023, according to the Nigerian National Petroleum Company Limited. This information was delivered via the company’s official Twitter account on Tuesday, September 12. According to NNPCL, a number of incidents were discovered during the specified time period, including the discovery of […]

Army discovers stolen 1m litres crude oil in Rivers
Oil and Gas

How Nigeria lost $46bn to oil theft in 11 years – Speaker

Nigeria has sustained significant losses as a result of crude oil theft totaling $46 billion between 2009 and 2020, according to the Speaker of the House of Representatives, Tajudeen Abbas. According to The Times, Rt. Hon. Abbas made this disclosure while establishing the special committee to look into crude oil theft and related revenue losses. He […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

How FG lost N1.9trn to oil theft in July – Report

Crude oil theft may have cost the country an enormous N1.9tn in revenue loss in July. The estimate was reached when the National Security Adviser, Nuhu Ribadu, led a presidential delegation to tour oil and gas installations at Owaza in Abia and Rivers State last week. According to Ribadu, Nigeria is losing 400,000 barrels of […]

Senate probes Niger Delta oil theft
Oil and Gas

2022: Oil theft, fuel subsidy, other Buhari regime challenges

  Oil Theft, Subsidy, Fuel Scarcity are among some of the challenges which the Federal Government tried to address in the Nigeria’s oil and gas sector in the outgoing year. However despite its efforts, little success has been recorded by the Major General Muhammadu Buhari (retd.), led administration. Despite recent improvements, Nigeria’s crude oil output […]

Oil Theft: Nigeria loses $150m every two days
featured

Economic expert implores federal, state govt. to fight off insecurity, oil theft

Development and economics specialist, Dr. Chiwuike Uba, has encouraged the federal and state governments to work together to take decisive action against pervasive insecurity and oil theft. The Amaka Chiwuike-Uba Foundation Board Chairman, Uba stated in a statement on Tuesday that the two key issues had completely disrupted the nation’s financial flow and earnings for […]

Oil theft: More illegal pipelines uncovered in Delta
Oil and Gas Uncategorized

Oil theft: More illegal pipelines uncovered in Delta

Tantita Security Services Nigeria Limited, an oil pipeline surveillance team hired by the Federal Government to combat crude oil theft, is said to have discovered more illegal crude oil pipelines connected to the Trans Forcados Export Trunkline. The Punch reported that the newest discoveries by the firm led by High Chief Government Ekpemupolo, also known […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

Oil Theft: ‘Nigeria loses $150m every two days’

The Nigerian National Petroleum Company Limited Chief Financial Officer, Umar Ajiya, said the country loses $150 million every two days. Ajiya who made the claim on Wednesday during an interview on Arise TV blamed vandalism and oil theft for the loss. According to Ajiya, NNPC which declared a profit was ₦674 billion in 2021 can […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

EFCC, ICPC should probe oil theft not lawmakers – Falana

Human rights activist and Senior Advocate of Nigeria, Femi Falana said it is not the business of the National Assembly to investigate economic sabotage in the oil sector. Falana who made this revelation on a Channels TV interview monitored by our correspondent on Friday said the probing of economic sabotage in the oil sector is […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

600,000 barrels of crude oil stolen daily – NUPRC

The Executive Commissioner, Corporate Services and Administration in Nigerian Upstream Petroleum Regulatory Commission, Mr Jide Adeola, said about 600,000 barrels of crude oil are stolen per day. According to The Punch, Adeola made the revelation during the oil lifting and theft investigation chaired by Senator Akpan Bassey sitting at the Senate on Wednesday. He said, […]

Oil theft: PENGASSAN finger military, others
Oil and Gas

Oil theft: PENGASSAN finger military, others

The Nigerian Army and other security outfits have been accused in the oil theft skirmish by the Petroleum and Natural Gas Senior Staff Association of Nigeria. According to The Punch, PENGASSAN made the accusation during the oil lifting and theft investigation chaired by Senator Akpan Bassey sitting at the Senate on Wednesday. The National President […]

Senate probes Niger Delta oil theft
Oil and Gas

Senate probes Niger Delta oil theft

The Senate Adhoc Committee commenced an investigation into oil theft and illegal bunkering activities in the Niger Delta region. According to The PUNCH, this was disclosed by the Chairman of the Committee, Bassey Akpan while answering questions from journalists on arrival at the Port Harcourt International Airport. Akpan revealed that the theft of crude oil […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

Nigeria lost N604.64bn to oil theft in eight months – FG

The Nigeria Upstream and Downstream Petroleum Regulatory Commission’s monthly report has revealed that the nation lost about 13.21 million barrels of crude oil with an estimated worth of N603.64bn between January and August this year to theft. According to The PUNCH, figures contained in the reports, obtained from the Nigeria Upstream and Downstream Petroleum Regulatory […]

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