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Business News of Sunday, 31 December 2023

Source: guardian.ng

NNPC uncovers 322 crude oil theft incidences in one week

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Within a week, the Nigerian National Petroleum Company Limited (NNPC) has revealed 322 crude oil theft incidences were recorded in the Niger Delta region.

The NNPC, in its summary of theft incidences on its official X handle, said 77 illegal pipeline connections were uncovered, just as 113 illegal refineries were destroyed in the Niger Delta, between December 16 and 22, 2023.

According to the report, 24 pipeline vandalism, nine vessels infractions, 10 illegal storage sites, 61 wooden fiber boats conveying stolen crude were arrested, five oil spill incidents and 23 vehicles were uncovered and arrested during the period.

The illegal refineries were discovered in Olodiama, Ekeremoh, Westboma, Otuasega, Okoroma, Nembe and Ukubie in Bayelsa State; Udu and Merije in Delta State; Tombo, Akara, Ukpata in Rivers State among others.12 suspects were arrested in the process.

NNPC, however, assured that it would not back down the war against crude oil theft until the menace is eradicated.

The Group Chief Executive Officer (GCEO), NNPC Ltd., Mele Kyari, had recently reiterated the company’s unflinching commitment to winning the ongoing war against crude oil theft in the country.

Kyari said the company has zero tolerance for crimes that impacted negatively on the nation’s energy security, stressing that the industry-wide security collaboration to tackle the menace had helped to avert many illegal operations on crude oil and products pipelines with many of the perpetrators arrested.

He said the security operation was aimed at stemming the twin evils of crude oil theft and pipeline vandalism with a view to increasing the nation’s crude oil production, boosting revenues, enhancing energy security, and bolstering economic prosperity.

Recall that the Speaker, House of Representatives, Tajudeen Abbas had said Nigeria loses about N1.29 trn yearly to crude oil theft.

Abbas said theft and other oil-related criminalities remain the greatest economic sabotage, leaving the country with dwindling revenue.

He lamented that Nigeria loses over 300,000 barrels of crude oil per day due to theft, vandalism, and other criminal activities.