Organized crime syndicates in Nigeria are stealing about 150,000 barrels of oil daily from the maze of pipelines crisscrossing Africa's top oil producer, an executive with Royal Dutch Shell PLC (RDSA) said at a conference Tuesday.
Organized crime syndicates in Nigeria are stealing about 150,000 barrels
of oil daily from the maze of pipelines crisscrossing Africa's top oil
producer, an executive with Royal Dutch Shell PLC (RDSA) said at a conference
Tuesday.
Even after the end of a decades-long conflict with oil militants, and as
Nigeria's oil production returns to pre-conflict levels, the country is
struggling to squash an increasingly mafia-like network of oil smugglers, whose
crude is tapped from pipelines and sold on international markets, said
Sub-Saharan Africa Executive Vice President Ian Craig for Shell Upstream
International, the exploration and production arm of the oil company.
Along with the increasingly sophisticated deep water technology, the theft is
pushing major oil producers like Shell to seek oil blocks farther off-shore in
Nigeria, where oil production facilities are safe from both theft and much of
the regulation Nigeria applies to on-shore platforms.
On a single pipeline, Craig said his company observed 50 illegally-installed
valves where thieves tapped oil, along with "industrial scale illegal
refineries with major, major environmental impact."
With
Nigeria
's
daily output currently estimated at 2.4 million barrels, the shadow bunkering
industry would account for one out of every sixteen barrels of oil the country
drills.
"Some countries aspire to that level of production," Craig said.
The company is considering another 200 wells and three platforms in
Nigeria
,
particularly across
Nigeria
's
"substantially understated" off-shore reserves, he said.
"
Nigeria
has
the resources to attract hundreds of billions of dollars in oil
investment," he said. "
Nigeria
's
deepwater development has been impressive, but when compared to
Angola
, it
is clear the level of development is far below
Nigeria
's
full potential."
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