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First with the News
Home Economy

Nigeria: $3.27b Crude Oil Stolen In 14 Months

• Govt mulls use of trucks - instead of pipelines - to transport crude oil from fields to export terminals.

March 25, 2022
in Economy, Niger Delta, Top Stories
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‘Eat the Oil Money; We Take the Crude’   
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By John Ikani

The Federal Government of Nigeria has raised an alarm over the rising rate of crude oil theft in the Niger Delta, disclosing that about $3.27 billion worth of oil has been lost to vandalism in the past 14 months.

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Chief Executive Officer (CEO) of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe made the disclosure on Wednesday in Abuja at a stakeholders’ engagement on oil theft.

According to him, most of the crude oil losses came from Bonny Terminal Network, Forcados Terminal Network and Brass Terminal Network.

Komolafe who stressed that high level of theft was responsible for Nigeria’s continuing failure to meet its 1.8 million barrels per day oil production quota set by the Organisation of the Petroleum Exporting Countries (OPEC), listed factors that were aiding the criminal activities as: economic challenges, inadequate security, poor surveillance, poor community engagements, exposed facilities and stakeholder compromises.

He further disclosed that the industry was considering using trucks to transport crude oil from fields to export terminals.

Meanwhile, the Chief of Defence Staff Gen. Lucky Irabor, and Minister of State for Petroleum Resources Timipre Sylva have warned that the government would no longer condone criminality on the nation’s oil and gas facilities and installations.

They said crude oil thieves, pipeline vandals and illegal refiners have their days numbered.

A statement by Malam Garba Deen Muhammad, group general manager, Group Public Affairs Division at Nigerian National Petroleum Company (NNPC) Ltd, said the warning was giving during an on-the-spot assessment of some pipelines damaged by vandals and other criminals in some areas and communities of Rivers State, on Wednesday.

At Ibaa Community in Emeoha Local Government where the delegation witnessed an illegal refinery burnt down by the military, Sylva said besides causing huge losses for the country, the criminals were also destroying livelihoods of locals and the environment.

General Irabor said in carrying out Mr President’s directives to contain losses from these criminalities, the military will deploy a different strategy and a new drive by pursuing not only the criminals, but also their sponsors.

“We are not only zeroing in on the criminals, but also on those who are supporting them,” he said.

Tags: breakingGbenga KomolafeGeneral Lucky IraborHeritageheritage timesheritagetimesmedialatestNational Petroleum Company (NNPC) LtdnewsNigerian Upstream Petroleum Regulatory Commission (NUPRC)Organisation of the Petroleum Exporting Countries (OPEC)the heritage timesthtthtafricaTimipre Sylvatop stories
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