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Tag "crude oil theft"

Oil theft: Nigeria lost $1bn in Q1 2022, says NUPRC

    Oil theft: Nigeria lost $1bn in Q1 2022, says NUPRC

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has developed key initiatives aimed at reducing crude oil theft and illegal artisanal refining. Gbenga Komolafe, chief executive officer, NUPRC, said

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Fear of dashed hopes as oil producers await decisive action against crude oil theft

    Fear of dashed hopes as oil producers await decisive action against crude oil theft

There is an interesting oil industry legend on crude oil theft! During a particular peak of the theft, the government observed that as the oil revenue of the country and

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Emefiele: Nigeria unable to meet output quota due to unwarranted oil theft

    Emefiele: Nigeria unable to meet output quota due to unwarranted oil theft

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the country is unable to meet its production quota due to unwarranted oil theft in the sector. Emefiele said

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REVEALED: How oil thieves are raking in ‘petrodollars’ on high seas while FAAC flounders

    REVEALED: How oil thieves are raking in ‘petrodollars’ on high seas while FAAC flounders

Oil producers in Nigeria say the negative impact of illegal oil bunkering is eroding gains, calling on the federal government to tackle the menace in the Niger Delta. In a

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DPR: How Nigeria’s crude oil is stolen from terminals

  DPR: How Nigeria’s crude oil is stolen from terminals

The Department of Petroleum Resources (DPR) says most incidents of crude oil theft occur from land terminals. Sarki Auwalu, DPR

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Report: Shell employees collude with locals to damage pipelines for personal gain

  Report: Shell employees collude with locals to damage pipelines for personal gain

Some employees of Shell in Nigeria colluded with locals to vandalise pipelines to benefit from the money spent on clean-up

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Report: Oil thieves stealing 100,000 barrels daily

Oil theft has replaced the activities of militants, costing the nation trillions of naira, according to a report by Bloomberg.  

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