Tag
CRUDE OIL THEFT
Other discoveries include an illegal connection of four kilometers route into the sea running from the Forcados line, which is estimated to have been around for 9 years.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has launched an application for the monitoring of crude oil theft and pipeline vandalism.
Nigeria Liquefied Natural Gas Ltd. (NLNG) has denied reports that it enabled the illegal exportation of crude oil and natural gas in Nigeria.
An oil pipeline which is capable of moving 180,000 barrels of crude every day across Nigeria, has stopped transporting the product since the middle of June as a result of theft.
Crude oil theft in Nigeria is organized crime and should be differentiated completely from host community issues.
Due to crude oil theft, Nigeria lost a staggering $1 billion in revenue in the first quarter of 2022, endangering the economy of Africa's top producer.
The FG has lamented the rise in crude oil theft which has affected its crude oil production and says it is committed to meeting its quota by August.
The Central Bank of Nigeria has agreed that increasing oil thefts on the economy is affecting the accretion of the country’s foreign reserves.
Hauwei Technologies, has revealed that it had developed an intelligent pipeline monitoring system to help tackle crude oil theft in Nigeria.
Nigeria lost $41.9 billion to crude oil and refined products theft between 2009 and 2019, a report obtained by Nairametrics disclosed.
The distribution of the NPMS by the DPR, marks the end of crude oil theft in Nigeria, as it promotes transparency in the oil and gas sector.