Chief executive officer of Seplat Energy, Austin Avuru, said he is worried over the massive stealing of crude oil in the Niger-Delta region.
He said that vandals and illegal bunkerers are taking over the entire crude oil pipeline network.
According to him, about 80 per cent of Nigeria’s crude oil production are being stolen between oil wells and oil export terminal.
Avuru in a report published by Africa oil and gas wants the situation to be treated as a national emergency.
He asked Nigerian National Petroleum Company (NNPC) to set up a war room strategy to tackle the threat, which according to him, is forcing international oil companies to leave Nigeria.
For instance, shell has divested from 21 oil blocks in the last 12 years, while ExxonMobil and shell are exiting onshore and shallow water oil blocs.