shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » CRUDE OIL THEFT : Nigeria Loses $1.5bn Anually

CRUDE OIL THEFT : Nigeria Loses $1.5bn Anually

by Ade
March 8, 2009
in Uncategorized

Barely one month after the former president of the Nigerian Bar Association (NBA), Mr Olisa Agbakoba raised alarm that Nigeria was losing enormous resources to crude oil thieves, SHELL Petroleum  Development Company (SPDC) Limited, subsidiary of Shell Companies in Nigeria has also disclosed that Nigeria loses  about $1.5 billion yearly to crude oil theft.Agbakoba had told participants at a recent awards and annual lecture of the Nigerian Chamber of Shipping (NCS) that crude oil thieves who have taken over the Niger Delta axis are responsible for the monumental losses.
But last week in Abuja the , the Managing Director of Shell Petroleum Development Company, Mr Mutiu Sunmonu also acknowledged  that  the nation was losing that whooping sum to oil theft.
Similarly, the , Nigerian National Petroleum Corporation agreed that the oil theft syndicate is a big threat to operations at the nation’s export terminals, even as the SPDC bos stressed that “even with low oil prices, the (Nigerian) government loses between $1 billion and $1.5 billion every year to crude theft,” “Crude theft is a crime, we should not give excuse to people stealing crude in the name of resource control or agitations,” he said.
Thieves masquerading under the guise of agitating for improved living conditions for communities in the oil-rich Niger-Delta, drill holes into oil manifolds and pipelines that crisscross the region, to siphon crude which is then loaded into barges transferred into ocean tankers on the high seas.
Sunmonu said that the act has reached a point where the lives of oil workers as well as the people in the Niger-Delta, are in danger.He said the Nigerian government must begin to enforce law and order in the troubled region, as this would also ensure a conducive atmosphere to fast track development in the region.


Related Posts

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

May 10, 2022
VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

April 29, 2022

‘Why I Pay More Attention To Rail Than Maritime Sector’- Rotimi Amaechi

September 27, 2021
ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

May 15, 2021

Discussion about this post

Latest News

Amidst Allegation of Fake Certificates in Circulation, NIMASA CoC Verification Portal Breaks down

Amidst Allegation of Fake Certificates in Circulation, NIMASA CoC Verification Portal Breaks down

May 16, 2022

Over 3000 Ex-Cadets Of MAN Oron With National Diploma Certificates Stranded, Unable To Further Their Studies

Despite LASG Suspension, Truckers Say Committee On Removal Of Abandoned Vehicles Still Operating Illegally

ANLCA Sues For Peace, Calls For Retreat To Reunite Association, Resolve Challenges

NPA To Concession Barge Operations, To Clampdown On Illegal Barge Owners

Automation Backbone Of Port Efficiency – NPA MD

High Cost Of AGO, Freight Rate Responsible For Fuel Scarcity In Abuja — Distributors

We’ve Paid Over N58b Bridging Claims To Oil Marketers – NMDPRA

Nigeria’s April Oil Output Drops 13.3 Percent to 1.3 Mbpd

FG Working To Improve West African Gas Pipeline Project Performance – Sylva

“Global West Vessel Specialist is not owned by Tompolo”

The Monster Of Extortion And Failure Of Traffic Control System In Apapa

kindly like our Facebook page

Health

What You Need To Know About Monkeypox
Health

What You Need To Know About Monkeypox

May 16, 2022

According to the latest Monkeypox situation report of the Nigeria Centre for Disease Control, Nigeria recorded 15 confirmed cases of...

Sleep Duration Of 7 Hours Optimal For Elderly – Study

Sleep Duration Of 7 Hours Optimal For Elderly – Study

May 16, 2022
COVID-19 On Increase In Americas, Africa – WHO

COVID-19 On Increase In Americas, Africa – WHO

May 9, 2022
‘65 Per Cent Of Africa’s Population Survived COVID-19’

‘65 Per Cent Of Africa’s Population Survived COVID-19’

May 9, 2022
Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

May 9, 2022
Some Things That Are Actually Damaging The Kidneys (2)

Some Things That Are Actually Damaging The Kidneys (2)

May 9, 2022

The World Of Vaccines, Before And After COVID

April 29, 2022
Only 29% Of Hospitalised COVID-19 Patients Make Full Recovery One Year On – Study

Only 29% Of Hospitalised COVID-19 Patients Make Full Recovery One Year On – Study

April 29, 2022
WHO Alerts Countries To Increase In Hepatitis Cases Of Unknown Origin

WHO Alerts Countries To Increase In Hepatitis Cases Of Unknown Origin

April 29, 2022
Some Things That Are Actually Damaging The Kidneys

Some Things That Are Actually Damaging The Kidneys

April 29, 2022
Nigeria Records Continuous Decrease In COVID-19 Cases, Deaths – NCDC

Nigeria Records Continuous Decrease In COVID-19 Cases, Deaths – NCDC

April 25, 2022

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition

No, thank you. I do not want.
100% secure your website.
Powered by EssentialPlugin