NNPCL: 150 Crude Oil Theft Incidents Occurred In 7 Days   The Nigerian National Petroleum Company Limited (NNPCL) has said that between August 26 and September 1, 2023, there were 150 crude oil theft incidents mainly across Bayelsa, Rivers, Imo and Delta states. The company stated this...

Stolen Crude oil: Private Security Intercepts 800,000 Litres A private security contractor engaged by Nigerian National Petroleum Company Limited (NNPCL), Messrs Tantita Security Services, has intercepted a suspicious 800,000 litres capacity vessel with stolen crude oil. The Vessel, MT TURA II (IMO number: 6620462), owned by...

'Over $56bn Lost To Oil Subsidy, Theft'   Nigeria lost $46.16bn to crude oil theft between 2009 and 2020, while it lost $10.7bn annually to subsidy on Premium Motor Spirit, popularly called petrol, the Energy and Natural Resources subcommittees of the Advisory Council of President Bola...

OPEC Raises Nigeria’s Oil Output As Saudi Arabia Cuts Production   Members and non-members of the Organisation of Petroleum Exporting Countries, referred to as OPEC+, on Sunday, agreed to cut crude oil production volumes in order to ensure global oil market stability, but allowed Nigeria, Congo...

Nigeria’s Average Crude Oil Production Rises By 15% In 2023   Despite its perennial underproduction in the last two years, Nigeria has been able to ramp up its crude oil output compared to its budget benchmark from an average of about 60 per cent to 75...

Malami to Reps: $2.4bn Diversion Claim Baseless, Lacks Merit   The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), has told the House of Representatives that the allegation that 48 million barrels of crude oil valued at over $2.4bn were sold to...