Oil Theft: Nigeria Losses 200,000 Barrels Of Oil Daily

The Nigerian National Petroleum Corporation disclosed that the country loses about 200,000 barrels of crude oil daily to thieves and vandals.

The Group Managing Director NNPC , Mallam Mele Kyari made this disclosure during a meeting with the Chief of Defence Staff, Major General Lucky Irabor, commending the effort of  security agencies for their support.

While advocating for more protection for NNPC’s operational assets and personnel, he added that there was a reduction in petroleum products theft on the System 2B Pipeline due to the support from the security agencies.

According to him, “We have two sets of losses, one coming from our products and the other coming from crude oil. In terms of crude losses, it is still going on. On the average, we are losing 200,000 barrels of crude every day”.

Oil Theft in Nigeria

In Nigeria, oil theft and pipeline vandalism have become repetitive crime costing the country to recount several losses. According to the Nigerian National Petroleum Corporation (NNPC) in 2019, Nigeria lost about $750 million (about N230 billion) to oil theft and pipeline vandalism.

With these new figures, failure to address security of pipeline and theft, the country would be losing about 73 million barrels of oil by the end.

CDS: We Promise Maximum Security

In his response, Major General Irabor promised to galvanize the military to provide maximum security for the nation’s oil and gas assets.

Acknowledging the significant role of the oil and gas sector to the economy, he stressed that there was a need for collaboration between the NNPC and the Armed Forces to protect oil and gas facilities.

“I am delighted that you made this effort, and I tell you that the Armed Forces of Nigeria will collaborate with you to protect NNPC’s assets.

“It is my intention to cooperate maximally with you and to give necessary instructions to all officers in the Armed Forces given that our existence, economically, rests almost solely on the NNPC, and to that extent, we must do everything possible to give you everything that you require,” the CDS stated.

Kehinde Ogunyale

Reporting on the data-driven economy, and investigations.

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