Senate probes oil theft in Niger Delta

The Senate Adhoc Committee on oil theft says it has begun investigation into circumstances surrounding oil theft and illegal bunkering activities in the Niger Delta region.

Chairman of the Committee, Bassey Akpan, disclosed this while fielding questions from journalists on arrival at the Port Harcourt International Airport over the week.

What Akpan said: Akpan lamented the massive stealing of Nigeria’s crude oil, saying it’s troubling.

He said the country had lost huge earnings and failed to meet the quota allocated by the Organisation of Petroleum Exporting Countries.

He said, “Our intention is to visit every oil terminal in the Niger Delta region to see things for ourselves, the reason for oil theft, the reason for oil losses.

“We at the National Assembly believe that the local refining capacity as a result of all the bunkering issues can never be guaranteed or be sustained or be ensured by the losses.

“We believe that there are other areas where the country loses this huge revenue and resources. So it’s a serious job we are out here to do.”

How much of Nigeria's oil is stolen?: The Economist reports that between 5% and 20% of Nigeria's oil is stolen. The Trans Niger pipeline, which can transport 180,000 barrels a day (about 16% of the country's current production) suffers so much theft that its flow has been halted since June.

What you should know: The Nigerian National Petroleum Company Limited (NNPCL) on Sunday, September 11, 2022, said it losses 470,000 bpd of crude oil amounting to $700 million monthly due to oil theft.

A statement by the NNPCL said that Bala Wunti, the Group General Manager, National Petroleum Investment Management Services (NAPMS), made this disclosure while speaking during a tour of the facilities of the NNPCL.

Mr Wunti said the pipelines particularly those around Bonny terminal cannot function due to the activities of criminals.

He also argued that the number of barrels stolen daily is very huge, adding that about 270 barrels per day that were supposed to be loaded in Bonny are no longer going to be loaded because of theft.