NNPC Claims to Have Eliminated Nearly All Pipeline Thefts

SEATTLE (Oil Monster): The state-owned oil company in Nigeria, The Nigerian National Petroleum Company Limited (NNPCL) claimed that it has nearly eliminated crude oil pipeline theft incidents. This was achieved after years of collaborated efforts by national defense and intelligence agencies.

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Before three years, only an average of 30% of oil in pipelines reached its destination. The rest were lost due to pipeline vandalism and oil theft. This has resulted in loss of billions of dollars for the country, according to the Nigeria Extractive Industries Transparency Initiative (NEITI). Over the past three years, there has been a remarkable progress in curbing pipeline attacks and oil thefts. NNPC stated that pipeline and terminal receipts have started attaining close to 100%.

The enhanced security at Niger Delta has helped the country boost its oil production. The region has been a hub of theft incidents during recent years. The government’s move to accelerate approvals for new oil projects will also lift the country’s oil output.

According to recent projections by the national oil regulator, Nigeria’s oil output could exceed 2.5 million barrels per day (bpd) in 2026. This is significantly higher when compared with the output of around 1 million bpd a decade ago.