• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 5 mins Biden suspends oil and gas drilling on Federal Lands for 60 days for review.
  • 3 mins Joe Biden's Presidency
  • 17 mins SUVs are conquering the world
  • 1 min 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
  • 17 hours Jim Rickards: Brace for a Great Escape from the Dollar and a Flood of Money into Gold and Bitcoin
  • 3 hours BIG TECH or BIG BROTHER?? 1984 to Become Reality ??
  • 18 hours China sends warplanes thru Taiwan airspace. Joe's reponse . . . .
  • 1 hour Rejoining Paris Climate Accord is Devestating
  • 4 hours Bankruptcy in the Industry
  • 8 hours Aramco in Talks on $2 Bln Loan from Japan
  • 23 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 1 day GENERAL NORMAN SCHWARZKOPF: The Third Tour
  • 1 day Biden's Green Energy Policy
The Surprising Rise And Fall Of A Shale Superstar

The Surprising Rise And Fall Of A Shale Superstar

Occidental petroleum was once a…

5 Oil And Gas Predictions For 2021

5 Oil And Gas Predictions For 2021

Following one of the least…

Nigerian Troops Capture 2 Tankers Carrying Stolen Crude

Many oil fields are situated in countries where poverty and crime are large problems. The locals see the oil as an opportunity to gain a bit of wealth and theft is common.

Nigeria is Africa’s largest producer of crude oil, and oil is one of the largest revenue creators in the country, however oil companies must constantly battle with thieves in the production and transport of oil in the region. At least 150,000 barrels of oil are stolen, causing higher production costs, and therefore lower revenues, and also risking major environmental disasters as the thieves often break pipes in order to loot the oil, regardless of the resulting oil spill that forms.

Shell is the largest producer of Nigerian oil, and yesterday reported two leaks on its trans Niger Pipeline in the Rivers state, which it suspects were caused by thieves cutting the pipes with hacksaws.

On the 4th of May it had to delay shipments of oil due to the theft of oil from its Nembe Creek Trunk pipeline. It had to stop the transport of 60,000 barrels a day whilst the line was repaired.

In this constant battle against the thieves Nigerian troops arrested two tankers full with crude that they suspect was stolen from coastal fields in Degema in the southern Rivers state. Brigadier General Tukur Buratai, commander of the joint military task force in charge of security in the oil region, said that the troops seized the tankers Oxo and Ani, which were carrying more than 1.8 million barrels of crude.

“Operatives of the joint military task force arrested the suspects ( a 26 man crew of Ghanaians and Nigerians) at Awoba (a coastal town in Rivers state),” he said.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage



Leave a comment
  • Jonas Pålsson on May 10 2012 said:
    Who says Nigeria is poor? But the wealth is very unevenly distributed. BP does not have much activity in Nigeria, as the article says it is among others Shell. However, the major operator in the Niger delta, Shell Petroleum Development Company is 55 % state owned and 30 % owned by Shell. About 95 % of the export revenue of Nigeria comes from the oil. Where this money goes is up for debate, but my guess is in the pockets of the officials and politicians.

    For more info, you can have a look at http://www.unep.org/nigeria/
  • spiral on May 10 2012 said:
    I wonder with oil of 100$/bbl or more, why these countries are still poor? does the BP steal the revenue of oil from the country?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News