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Oil theft in Nigeria is considered to be the illegal appropriation of crude or refined oil products from the pipelines of multinational oil companies. Oil theft in Nigeria is facilitated by the pragmatic co-operation between security forces, militia organizations, the local population, and oil company employees who use a variety of methods to steal oil from the multinational oil corporations ...
Nigeria lost at least $3 billion worth of crude oil to theft between January 2021 and February 2022, the Nigerian Upstream Petroleum Regulatory Commission said last year.
Despite Nigeria's vast oil riches, the sector has been plagued by persistent oil theft and vandalism over the past several years. According to some estimates, this so-called "bunkering" of oil ...
Crude oil theft in Nigeria, which is blamed for throttling output and exports, is tantamount to treason that should be punished by the stiffest possible penalty, the Speaker of the House of ...
Oil theft on the Nembe Creek Trunk Line (NCTL) significantly impacted on Shells exportation of the Bonny Light. On 4 May 2012, Shell Petroleum Development Company of Nigeria Ltd (SPDC) was compelled by "production deferment caused by incessant crude theft and illegal bunkering on Nembe Creek Trunkline (NCTL) to declare force majeure on ...
In July 2013, a report analysing the effect of oil theft in Nigeria revealed that Nigeria lost $10.9 billion in potential oil revenues between 2009 and 2011. [60] In 2022, the country's oil industry's regulator mentioned that oil theft accounted for 108,000 barrels a day, which is about 7% of total oil production.
Nigeria on Tuesday began drilling oil and natural gas in the country’s northern region, anticipating a boost to the nation's finances even as the new energy supplies face the threat from theft ...
Shell Nigeria is the common name for Shell plc's Nigerian operations carried out through four subsidiaries—primarily Shell Petroleum Development Company of Nigeria Limited (SPDC). [2] Royal Dutch Shell's joint ventures account for more than 21% of Nigeria's total petroleum production (629,000 barrels per day (100,000 m 3 /d) (bpd) in 2009). [3]