Tag: Crude oil

“Conspiracy of silence in crude oil theft” – Report

Aminu Imam

…Alleged involvement of IOCs, NOCs, foreign ship owners, security agents The rate of pipeline vandalisation, crude oil theft, sea robbery and other maritime illegalities within Nigerias backwaters has taken a worrisome dimension in recent times, as shown by Nigerias oil regulator report. In a stark revelation on the impact of oil thefts on the nation’s economy, the report stated that the country lost 141 million barrels of crude oil, an equivalent of $1bn worth of revenue in the first quarter of 2022. However, there are starling discoveries on why crude…

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Crude Oil theft: Irabor, Kyari vow to unmask operators of illegal crude oil trunkline in Delta

Aminu Imam

The Chief of Defence Staff, General Lucky Irabor and the Group Managing Director of the Nigeria National Petroleum Company Limited (NNPC), Mele Kyari, have vowed to unmask the saboteurs behind the illegal four-kilometre pipeline connected from Forcados terminal to the sea to siphon crude oil. Both Irabor and Kyari made the vow at the weekend, during a joint visit to the illegal loading port, which is attached to the Trans Escravos pipeline at Yokre Flow Station in Ogulagha oil field in Burutu local government area of Delta State. Recall that…

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Tompolo exposes IOCs, security officials, oil bunkerers behind Nigeria’s oil theft

Aminu Imam

Uncovers 16 hidden tapping points on transit pipelines The Niger-Delta ex-militant leader, Government Ekpemupolo, better known as Tompolo, says surveillance outfit Tantita Security Services Limited, has discovered major tapping points on the Trans-Forcados/Ramos Pipeline in Delta State, through which International Oil Companies (IOCs), foreign ships, security officials, oil bunkerers, and locals have colluded to bleed the country over the years. The ex-militant strongly accused the security agencies of being behind the stealing of Nigerias crude oil. According to him, he discovered the breaches after the Nigerian National Petroleum Corporation Limited,…

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Crude oil theft: ‘Treat stolen Nigerian oil as blood diamonds’ – Mele Kyari tells Int’l Community

Aminu Imam

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Limited has called on the international community to treat any Nigerian oil from unofficial channels the same way blood diamonds were treated in the recent past. Speaking at the ‘Nigeria International Economic Partnership Forum’ in New York, on Thursday, Kyari said the international community must collaborate with the Nigerian government to stop the illegal trade in Nigeria’s stolen crude oil abroad the same way it is criminalising stolen diamonds from Congo and Sierra Leone. He said, Oil theft is…

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Economic Sabotage: ‘Massive crude oil thefts pushing Nigerias economy into coma’ – Senate President

Aminu Imam

…Gbajabiamila also expresses concern The Senate President, Ahmad Lawan, yesterday lamented that the generation and collection of revenues have remained Nigerias major challenges as well as the massive loss of revenue through oil theft, saying it is debilitating and threatening to throw the nation’s economy into a coma. Lawan, who made the observation in his opening speech while welcoming his colleagues from the long annual recess, noted that revelations about the scale of oil theft shows that until the Government take decisive actions, Nigeria could soon lose any such revenue…

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Buhari charges military to halt crude oil theft in Niger-Delta

Aminu Imam

Barely 24 hours after President Muhammadu Buhari gave a marching order to security agencies to take the battle to the hideouts of insurgents in the North-East and eliminate them, he has again directed the military to immediately put a stop to theft of the nations crude oil by criminals and vandals in the Niger-Delta region. The President, who gave the directive on Friday at the State House, Abuja, while receiving in audience the Central Working Committee of the Association of Senior Civil Servants of Nigeria (ASCSN), stressed that his administration…

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3m barrels Crude Oil Theft: Fleeing supertanker seized in Equatorial Guinea

Aminu Imam

The Equatorial Guinea Navy has arrested an oil super tanker, MV HEROIC IDUN, which evaded arrest in Nigeria after it was seen around the AKPO Oil field on August 7.  The vessel, with International Maritime Organisation (IMO) number 9858058, was arrested on Friday with the help of intelligence supplied to that country by the Nigerian Navy (NN). The Nigerian Navy Ship, (NNS) GONGOLA, had interrogated the ship, which has capacity to lift about three million barrels of crude oil, when it was first seen around the AKPO Deep off-shore oil field…

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Crude Oil Theft: Nigeria losing 6.132bn gallons annually – Analyst

Aminu Imam

…Equivalent to 67m litres of refined product lost daily Latest analysis has revealed that with a barrel of oil containing 42 gallons, Nigeria is losing a whopping 6.132 billion gallons of crude annually to oil thieves. In addition, the country is also losing to oil thieves, about 16.8 million gallons of crude oil, which is equivalent to 67 million litres of refined petroleum products. A public affairs analyst, Bala Zaka, who revealed these, explained that the figures emanated from the summation using 400,000 barrels per day and 146 million barrels…

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‘How govt. officials facilitated $1.2bn crude oil, gas theft’ Source

Aminu Imam

Security sources have disclosed that the real looting of Nigerias crude oil and its by-products is neither through illegal bunkering, refining, nor pipeline vandalism, but via highly placed government officials-enabled undocumented shipments of large-scale hydro-carbon products worth over $1.2 billion to Europe and the Americas. The sources noted that while all eyes are on the fight against illegal oil bunkering and pipeline vandalism, top government officials of agencies expected to perform supervisory and due diligence roles in the sale and shipment of the nations vast hydrocarbon resources are trading away…

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Crude Oil Theft: ‘Nigeria loses N3.038 trillion in one year’ – Report

Aminu Imam

The Federal Government may have lost over N3.8 trillion to shortfall in the nation’s oil production due to the continued increase in theft and pipeline vandalism, estimated to have gulped 73 million barrels a year. According to an investigative report published at the weekend, despite the rise in crude oil prices in the international market, Nigerias economy may not reap the benefits as the country loses about $7.3 billion a year to oil thieves and vandals. The situation is made worse by the countrys inability to meet the Organisation of…

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