It cited findings that “oil bunkering, or theft, costs the government an estimated $7 billion in lost revenue per year.” By comparison, Nigeria’s annual total budget is around $31 billion.

Theft and sabotage often leads to pipeline damage, causing oil firms to cut output. Shell has been Nigeria’s biggest producer, with major firms such as Exxon, Chevron and Total also present.

http://www.vanguardngr.com/2012/11/nigeria-loses-7b-to-oil-bunkering-yearly-iea/


Nigeria loses  $7b to oil bunkering yearly  - IEA

LAGOS – (AFP) – Flooding and large-scale theft of crude drove Nigerian oil output to the lowest level for more than two years in October, the IEA said on Tuesday, highlighting challenges facing Africa’s biggest producer.

Oil production in Nigeria fell to 1.95 million barrels per day in October, the International Energy Agency said in its monthly report, with production in recent months having ranged between 2.0 and 2.5 mbd.

The drop from September to October was around 110,000 barrels per day, it said, leaving Nigerian production at “the lowest level in around two and half years.”

Despite concerted efforts of the Federal Government, through the military operations of the Joint Task Force (JTF), otherwise known as “Operation Pulo Shield,” in the heart of the Niger Delta, influential multi-billionaires, who, for decades, have been funding illegal oil bunkering and local refineries are scaling up their cartel to steal the nation’s crude and refined oil in the creeks of the South-South

Sunday Tribune exclusive investigation indicated that most of the suspects arrested by the JTF in the ongoing battle to checkmate siphoning of oil along the coast line and in some oil producing communities located in Bayelsa, Delta, Akwa Ibom, Rivers and Edo states are foot soldiers of powerful barons who actually play behind-the-scene role to sustain illegal bunkering trade in the Niger Delta.

However, majority of the suspects often find their way out of police cells after they must have been handed over by the JTF for prosecution, a development that makes it easier for them to return to the creeks to further perpetrate stealing of oil through ruptured pipelines and abandoned well heads.

http://tribune.com.ng/sun/news/8778-how-oil-thieves-feed-fat-on-nations-crude-why-oil-theft-illegal-refining-are-unstoppable

An interesting dimension to the problem of oil theft in the Niger Delta Area, it has been revealed, is that oil thieves now embark on corporate social responsibilities, by building roads, hospitals, schools and engaging in other community development projects.

However, beginning from today, the Niger Delta will witness a massive military operation as the Nigerian Navy deploys eight warships, six gunboats and three halicopters, including aircraft used for maritime patrol by the Nigerian Air Force, to engage oil thieves who are bleeding the nation’s economy through illegal bunkering and flush them out of the region.

This development is coming on the heels of the criminal activities of oil thieves and the brazen manner they operate in the Niger Delta on a daily basis, which are already creating grave concern for stakeholders in the oil sector. Besides, official sources said the Federal Government was losing over $5 billion to the thieves annually.

http://tribune.com.ng/sun/front-page-articles/9123-niger-delta-oil-thieves-build-roads-hospitals-schools-for-communities--as-navy-deploys-8-warships-6-gunboats-aircraft-in-ndelta

citizenisb: Despite concerted efforts of the Federal Government, through the military operations of the Joint Task Force (JTF), otherwise known as “Operation Pulo Shield,” in the heart of the Niger Delta, influential multi-billionaires, who, for decades, have been funding illegal oil bunkering and local refineries are scaling up their cartel to steal the nation’s crude and refined oil in the creeks of the South-South

Sunday Tribune exclusive investigation indicated that most of the suspects arrested by the JTF in the ongoing battle to checkmate siphoning of oil along the coast line and in some oil producing communities located in Bayelsa, Delta, Akwa Ibom, Rivers and Edo states are foot soldiers of powerful barons who actually play behind-the-scene role to sustain illegal bunkering trade in the Niger Delta.

However, majority of the suspects often find their way out of police cells after they must have been handed over by the JTF for prosecution, a development that makes it easier for them to return to the creeks to further perpetrate stealing of oil through ruptured pipelines and abandoned well heads.

http://tribune.com.ng/sun/news/8778-how-oil-thieves-feed-fat-on-nations-crude-why-oil-theft-illegal-refining-are-unstoppable

The Commander in chief should be held responsible for that. With all the JTF's, Tompolo's security outfit and the outrageous money paid to him, we are yet to curb this embarrassing oil theft. Well I don't blame them because na their "oyel" and the President na their "pikin".

a lot to lose when you take into account the lack of money in the first place

I COMMENT MY RESERVE, NO NEED FOR ALARM THE CONTROL IS ON. ANYBODY THAT HAVE LIVED IN THE CREEK WOULD KNOW WHAT IT MEANS TO CATCH THE LAND OWNERS, WHO ARE QUITE VERSED IN THE AREA. JTF IS TRYING SHAA

Chai! Ihe neme! $7 bill is grossly gross,and considering all the cash is entering only a few pockets,it obvious 9ja is on a looong thing!

plus the one we loose when the official money gets to the official man. damn!! why was i born in such a country!! Aint there any good news atall or am i reading too much of nairaland?

Choi.. Its time to relocate to naija delta

As if they do not know who these thieves are..

Just as pastors have private jets.. So also are the niger delta elites... Owning vessels and local refineries!
Even mummy dame has a vessel!

The people telling us knows those who are involved.

If u ask me, less money for government officials alone to embezzle

$7billion :-O MY God. Thats huge. Ah people are heartless.

[size=30pt]SO WHAT OF THE SO CALLED - CABALS HOW MUCH DO THEY MAKE THE F.G LOOSE......

GOSH THIS AS.S HO.LES DISGUST ME SO MUCH I HATE ALL OF THEM.......... [/size]

Who are the bunkers?
GEJ and his cohorts are all involved in the bunkering of Nigerian crude especially the Bonny Light,they sell our oil to refineries abroad through dollar thirst oil companies.
Awarding oil blocks to themselves while the masses lavish in abject poverty,chronic goons in the corridor of power.

All I pray is for the money and oil not to finish before my time. At least let me take my family share from the national cake. That's all I think of

So far sey gold circle na still N50, I no send.

if the oil ole are providing school,roads and other infracstructures,make them free them jare,we have more things to deal with + the one wey dey with govt dem dey utilize am well,atleast them still better subsidy scammers,lol

Men, if this level dey really pay, na to join the trade becos pipeline pass my village. Na to organize few local youths join body ooo.

must stop somehow ..

By God's grace, i'm an oil bunkering aspirant and sooner dan later, i go hammer. Dat's d only way i can get my own share frm dis national moi moi. I encourage pple 2 join d bunkering deal cos if u fail 2 eat urs through ur own illegal way, dos cabals at FG, SG etc would eat it 4 u. Nansense!

Silly comment from our useless government. With all the operation Pluto or pulo or even pilo shield they say Nigeria is loosing 7billion dollars. GEJ and his comments, so awkward. How about the ones the cabals stole, which is even very open and dry, what have they done, rather, they have deviced every means to rubbish the investigation. Now they are shouting 7billion dollars lost. I want and I demand to know how the money paid for crude oil through the proper official channel. How have they been able to account for it. ? They sit in their offices and use pen to steal the nations resources and they have the guts to tell Nigerian that Nigeria is loosing 7billion dollars yearly. I can see that our government officials have long been thinking with the hole in their behind. Nonsense.

Please, I have crude oil for sale, any interested party drop a note here, we take it from here. 2 million barrels, international price, less $12 .

The most painful part is that for all the billions of dollars made there is nothing on ground to show for it, majority of the billions is still spent in the white mans land adding value to their economy while they are destroying the ecosystem of the Niger delta in the process.

otokx: The most painful part is that for all the billions of dollars made there is nothing on ground to show for it, majority of the billions is still spent in the white mans land adding value to their economy while they are destroying the ecosystem of the Niger delta in the process.

Don't mind silly government with silly statements. Guys, we have surely lost our country and I can see that we may not be able to redeem it. Trust me. If you say we can, how? How can we redeem this country that is irreversibly plagued by fraudulent government officials.

What about the outrageous amounts that Tompolo and co are being paid to "guard our pipelines"?

Majority of these big politicians sponsor bunkering and also navy officials and police also are involved - a policeman confessed that he does bunkering face to face to my brother he said that's is other way of income

citizenisb: It cited findings that “oil bunkering, or theft, costs the government an estimated $7 billion in lost revenue per year.” By comparison, Nigeria’s annual total budget is around $31 billion.

Theft and sabotage often leads to pipeline damage, causing oil firms to cut output. Shell has been Nigeria’s biggest producer, with major firms such as Exxon, Chevron and Total also present.

Where are these figures coming from? Especially given the fact that we cannot get reliable figures from NNPC and their partners regarding crude extracted, sold, or refined not to mention the mess we have on the import end of the system. Please, NNPC and friends are busy robbing us blind and we are here highlighting these rubbish figures and accusations they throw around just to detract from the fact that they and their cohorts (Petroleum Ministry I dey see you o!) are the major problem affecting our oil industry.