Crude Oil Worth $48.42 Million Lost To Thieves In January, February 2020 – NNPC GMD

The Nigerian National Petroleum Corporation’s Group Managing Director, Mele Kyari, said 2.9 million barrels of crude oil valued at $48.42 million, were lost to oil thieves and vandals between January and February 2020.

According to him, the Federal Government is beefing up security in the oil producing areas to bring crude oil theft to an end.

He said at a virtual conference with editors on Thursday that 74 crude oil pipeline breaches were recorded from January to February 2020.

Kyari added that from January to September 2019, about 11.5 million barrels of crude oil, worth $747.50million, were lost to illegal activities of vandals and thieves.

He said that the loss recorded in 2019 was 5% of the total Joint Venture production.