Nigeria Loses 362.28m Barrels of Crude to Sabotage — NEITI   A new report by the Nigeria Extractive Industries Transparency Initiative (NEITI) has indicated that Nigeria lost 362.28 million barrels of crude oil due to measurement errors, sabotage, and production adjustments between 2014 and 2023. This implies...

Oil Exploration: NNPCL To Boost Reserves To 50 Billion Barrels   The ongoing oil exploration in Nigeria’s frontier basins is to grow the country’s crude oil reserves from 37 billion barrels to 50 billion barrels, the Nigerian National Petroleum Company Limited (NNPCL) announced on Tuesday. NNPC also...

We Lose $700m Monthly To Oil Theft - NNPC   The Nigerian National Petroleum Company Limited (NNPCL) says it loses 470,000 bpd amounting to $700m monthly to the activities of oil thieves. The Group General Manager, Crude Oil Marketing Department, Rose Eshiett, disclosed this to journalists on...

In Four Years, Nigeria Loses 2.5trn Oil Barrels       Nigeria has lost 4.5 trillion barrels of oil to theft in the last four years, according to data from the Nigeria Natural Resource Charter (NNRC). Another data from the National Oil Spill Detection and Response Agency (NOSDRA) showed...

Nigeria Lost 4.5trn Oil Barrels To Theft In 4 Years, Says Minister       Dr Mohammad Abubakar, Minister of Environment, on Monday, disclosed that Nigeria recorded 4,919 oil spills between 2015 to March 2021 and lost 4.5 trillion barrels of oil to theft in four years. Abubakar disclosed...

4.36m Oil Barrels Lost To Power Outage, Others – NNPC     No fewer than 14 crude oil export terminals in the country were shut down in April and May this year owing to power outage and pipeline leakage, the Nigerian National Petroleum Corporation has said. According to...