• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 19 mins The Downside of Political Correctness
  • 2 hours George Floyd’s History
  • 9 mins Main Stream Media falls into depressed mood today after hearing of the record May jobs report UP 2.5 MILLION JOBS !
  • 22 mins In the Event of WW3, Oil and/or Renewables?
  • 8 hours Rioting and Protesting
  • 9 mins Trump waves a Bible
  • 13 hours US and Australia Sign SPR Lease Agreement
  • 3 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 7 hours Let's try to link the recent events back to the situation with oil production and pricing
  • 2 hours Coronavirus hype biggest political hoax in history
  • 13 hours China’s Oil Thirst Draws an Armada of Tankers
  • 43 mins Model 3 cheaper to buy than BMW 3 series.
  • 1 day Healing, Not Hatred
  • 23 hours Trumps Oil Industry....
  • 1 day Let’s Try This....
Are Investors Ignoring The Largest Financial Risk Ever?

Are Investors Ignoring The Largest Financial Risk Ever?

Financial markets haven’t priced in…

What's Holding Natural Gas Prices Back?

What's Holding Natural Gas Prices Back?

Natural gas prices are languishing…

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