Tag: Oil Theft

Nigeria lost N1.96tr to crude oil theft in 2021 – NEITI 

Aminu Imam

Nigeria Extractive Industries Transparency Initiative, (NEITI), says Nigeria lost about N1.96 trillion to oil theft, sabotage and oil production adjustment in 2021.  NEITI, which disclosed this in its recent ‘2021 Oil and Gas Sector Report’, explained that 68.47 million barrels of crude oil were lost in the year under review.  Figures from an international statistical firm, Statistica, showed that the average cost of crude oil in 2021 was $70.86 per barrel. Also, according to data from a global rate monitoring firm, Exchange Rates UK, the average exchange rate of the…

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“Why Tinubu should act, fight against crude oil theft now” – Analyst

Aminu Imam

A public affairs analyst, Comrade Ovasa Ogaga, has said that in a remarkable turn of events, Nigeria has witnessed a significant upturn in its battle against crude oil theft, thanks to the efforts of the security firm in-charge of securing the crude oil pipelines in the Niger-Delta region, Tantita Security Service Nigeria Ltd and its affiliate agencies. Ogaga, who stated this in an opinion article published at the weekend, said, “After years of struggling with organised syndicates of oil thieves, Nigeria’s crude oil production is on the rise again, and…

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Alleged Theft: H/Reps committee investigating crude oil export shipping insists NNPCL, NIMASA, NIWA GMDs appear in person

Aminu Imam

House of Representatives Reps Insist Ad-hoc Committee, investigating crude oil theft has insisted on appearance, physically, of Group Chief Executive Officers of the Nigeria National Petroleum Company Ltd (NNPCL), Nigeria Maritime Administration and Safety Agency, (NIMASA) and the Nigeria Inland Waterways Authority, (NIWA). Chairman of the Committee, Alhassan Doguwa, gave the instruction on Friday, which was the second day of the investigative hearing of the House Committee whereby Heads of Agencies were invited; but rather, they sent Directors as representatives. Hon. Doguwa stated that most of the invited CEOs had…

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Nigeria loses N16.25tr to crude oil theft – Speaker H/Reps, Abbas

Aminu Imam

Speaker of the House of Representatives, Tajudeen Abbas has disclosed that Nigeria lost N16.25 trillion to crude oil theft between 2009 and 2020. The Speaker, who stated this while inaugurating the ad-hoc committee to investigate crude oil theft and loss of revenue in Abuja on Thursday, said the menace of crude oil theft had hampered the growth of the country’s oil production, with between five and 30 per cent of crude oil production lost daily. He said that critical agencies in the oil and gas sector like the Nigeria National Petroleum Company Ltd, Nigeria…

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Tompolo’s firm accuses Navy of shielding crude oil thieves on high seas

Aminu Imam

…Says Navy arresting own personnel The management of Tantita Security Services Nigeria Limited, a Federal Government-contracted oil pipeline surveillance firm, has accused the Nigerian Navy of shielding some suspected oil thieves being pursued by its personnel. It alleged that the Navy arrested four of its personnel chasing the suspects on the high seas towards a naval base. This was contained in a statement issued by Tantita management and made available to journalists in Warri, Delta State on Saturday on the heels of the purported arrest of four surveillance personnel of…

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Crude Oil Theft:  FG discovers illegal connection costing Nigeria $7.2m monthly

Aminu Imam

…Nigeria still losing 400,000 barrels to thieves daily – NSA President Bola Tinubu’s commissioned delegation, tasked with assessing the oil theft situation in the Niger Delta, made a significant discovery at the weekend. An unlawful oil connection was identified during this operation. The group also noted the presence of covert refineries, illicit bunkering operations, and the resulting environmental devastation. Collectively, these findings point to substantial economic losses for the nation. On the presidential delegation with the NSA were the Minister of Defence, Badaru Abubakar, and Chief of Defence Staff (CDS),…

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‘Capsized Seplat oil rig operating illegally on Nigerian waters since 2016’ – NIMASA

Aminu Imam

The Nigerian Maritime Administration and Safety Agency, (NIMASA), have revealed that the oil rig that capsized on Tuesday at Ovhor in Warri, Delta State, had been illegally operating in Nigerian waters since 2016. In a press statement issued on Wednesday by the agency’s Head of Public Relations, Osagie Edward, it stated that the Majestic Rig, owned by Depthwize Nigeria Limited, had been operating without the necessary regulatory approvals since 2016. According to him, NIMASA has sent a team to the scene of the incident comprised of Search and Rescue and…

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N16.25tr lost to oil theft from 2009 to 2020 – NEITI

Aminu Imam

The Nigeria Extractive Industries Transparency Initiative, (NEITI), says Nigeria lost about N16.25trillion to crude oil theft and sabotage of crude assets between 2009 and 2020. The Executive Secretary of NEITI, Ogbonnaya Orji, who revealed this at a multi-stakeholders’ roundtable on the approval of the agency’s 2022 industry report, further said the amount lost was as a result of the loss of over 619.7 million barrels of crude oil within this period. NEITI also stated that Nigeria spent N13.7 trillion on subsidy payments between 2005 and 2021. Orji also announced that…

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Rivers: NAF airstrikes destroy boats ‘loaded with stolen crude’ 

Aminu Imam

The Nigerian Air Force (NAF) says it destroyed three boats sighted tapping crude oil from a pipeline at a dispensing site in Rivers State. Director of NAF Public Relations, Edward Gabkwet, in a statement, said the operation was carried out via airstrikes on Saturday, August 5, 2023. According to him, the air component of ‘Operation Delta Safe’ executed the operation. He said, “The air strikes became necessary after three boats were sighted tapping crude oil from a pipeline”.  Consequently, the boats were engaged and destroyed by the aircraft,” he added.…

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Nigeria’s oil production drops to 3-month low, as illegal export shipping persists

Aminu Imam

Nigeria’s crude oil output slumped to a three-month low data from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and Organisation of Petroleum Exporting Countries (OPEC) reveals. The production data from both bodies shows Nigeria’s average daily crude oil production stands at 1.018 million bpd. This falls short of the 1.249 million bpd it produced in June and the 1.184 million bpd it produced in May. Nigeria produced 33.5 million barrels of crude oil per day in July, which falls short of the 37.4 million barrels it produced in June and…

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