Again, Nigerian National Petroleum Company Limited (NNPC) has cried out over the massive stealing of crude oil being produced for export in the Niger-Delta region.
The company’s group managing director, Mele Kyari, said out of an average of 239,000 barrel of crude oil being produced daily, only 3,000 get to the bonny export terminal.
Kyari, appearing before the petroleum upstream committee of the House of Representatives, said 236,000 barrel of crude oil are being stolen daily between oilfields and export terminals.
According to him, with 200,000 barrels produced daily in 2021, Nigeria lost $4 billion to the oil thieves, and $1.5 billion this year.
Kyari, who describes the situation as worrisome, said it had been forcing oil companies to shut down production, especially on onshore fields.
At the moment, Nigeria due to the oil theft is unable to meet its OPEC production quota, and benefit from the sharp rise in crude price, following the Ukraine war.
He asked the committee to give NNPC two months to implement measures being developed to address the challenges.