Tag
OIL THEFT
According to Nigeria's Budget Office, government oil earnings through November were only about half what was expected, despite higher oil prices
In the face of declining foreign exchange inflows and declining oil production, the naira fell to a record...
PENGASSAN has warned that increasing oil theft is forcing its members to lose jobs in Nigeria’s oil servicing industry.
The Minister of State for Petroleum Resources, Timipre Sylva has revealed that Nigeria is losing 400,000 barrels per day to crude oil theft.
Shell has revealed that it has signed a contract for drone acquisition to protect its pipelines in the Niger Delta from oil theft.
The NNPC chief has stated that there is a need to set up special courts to try and prosecute crude oil thieves and pipeline vandals.
With organized criminal gangs making off with billions in stolen crude, Africa's richest economy faces its worst oil crisis in years.
There was a significant reduction of 21% from the previous year, where 53.28 million barrels were lost.
The prevalence of oil theft in the Niger Delta region has proven to be a source of worry for Edo State Governor, Mr Godwin Obaseki.