Tag: Crude Oil

NNPCL Records 149 Oil Theft Cases In a Week   The Nigerian National Petroleum Company Limited (NNPCL) said it recorded 149 incidences of crude oil theft across the Niger Delta in one week. In a statement on Tuesday, the Company said in one of the incidents, an...

Crude Oil Price Hits $97 Per Barrel Brent crude oil price rallied to $97.5 on Thursday, as the crude storage hub in Cushing, Oklahoma, United States, fell by 943,000 barrels to 22 million barrels within one week. According to the Managing Director of TD Securities, Bart...

Crude Hits $94, Marketers Eye Fresh Fuel Price Hike The rise in the cost of crude oil, coupled with the depreciation of the naira against the United States dollar, might lead to a hike in the pump price of Premium Motor Spirit, popularly called petrol,...

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...