Nigeria Loses $20.4bn Annually To Oil Theft   Speaker of the House of Representatives, Hon Femi Gbajabiamila on Tuesday said the country is losing 400,000 barrels of oil per day (bpd) amounting to about $20.4 billion annually to theft. But the Nigeria National Petroleum Corporation (NNPC) and...

DPR Decries Oil Theft, Generates N2.4trn In One Year   The Department of Petroleum Resources has lamented the high rate of crude theft in the country. The agency also disclosed that it generated N2.4tn to support government revenue in 2019 despite the challenge of oil theft. It explained...

NPDC, FHN Lose $29m Crude To Oil Theft   An oil block, Oil Mining Lease 26, jointly owned by the Nigerian Petroleum Development Company and First Hydrocarbon Nigeria Limited has come under attacks by oil thieves, the technical partner has said. The Asset Management Team for OML...

Nigeria Loses $12bn Annually To Oil Theft, Stakeholders Seek FG Action Nigeria loses between $7 billion and $12 billion to crude oil theft annually, a study by the Nigeria Natural Resource Charter (NNRC) has found, prompting reactions from stakeholders on the implications for the country’s...

EU Pledges €155m To Fight Piracy, Oil Theft Along Gulf Of Guinea The European Union (EU) on Monday disclosed that it had earmarked the sum of €155m in terms of support and other logistics towards the implementation of the Economic Community of West African States...

The federal government is demanding $406.75 million at the minimum from the Shell Petroleum Development Company (SPDC) and its surrogate Shell Western Supply & Trading Limited for alleged crude oil theft. The amount, according to court papers in Lagos, represents the shortfall of the money...