Nigeria Loses N313bn As Oil Theft, Shutdown Rise   Rising oil thefts and workers’ strikes have led to a huge drop in Nigeria’s oil production output, culminating in the loss of hundreds of billions of naira in oil earnings. Crude oil production in Nigeria crashed by over...

IOC Says Nigeria Lost N2.3trn Revenue To Oil Theft In 12 Months   Nigeria has lost an opportunity to produce and sell about 65,700,000 barrels of oil in the last one year due to issues bothering on pipeline vandalism and the resultant oil theft. This translates to...

Nigeria Loses $2bn To Oil Theft In Eight Months   The ad-hoc committee set up by the Senate to investigate oil theft and consequent damage on the nation’s economy said on Tuesday that Nigeria lost $2 billion, equivalent to N1.3trillion, to oil theft between January and...

Crude Theft Dips Oil Production To 0.94mbp In September   Crude oil production in Nigeria slumped to about 0.94 million barrels per day in September 2022, the Federal Government said on Monday. Figures released by the Nigerian Upstream Petroleum Regulatory Commission, an agency of the Federal Government,...

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...

Navy Destroys N30bn Illegal Refinery Assets   The Nigerian Navy (NN) has destroyed assets worth over N30 billion belonging to illegal refinery operators in the Niger Delta, in its war against oil theft. Commodore Adedotun Ayo-Vaughan, Director of Information, NN, said the Navy was doing its best...