2021 ended with a report that Nigeria experienced a deficit of almost 200 million barrels of crude in the first 11 months of the year, mainly due to oil theft. But these experiences are all too common, and not limited to Nigeria alone. Year on year, we are seeing huge oil losses because of theft. Oil theft in Nigeria is made easier by several factors.
Aging infrastructure, such as oil pipelines, makes it easier for thieves to get access to the crude. In addition, general underinvestment across the sector and poor security of the country’s…Nigeria Is Losing Major Investors As Oil Theft Runs Rampant
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