Business
NNPC looses 1.5 billion dollars daily to oil vandals
Group Managing Director of the NNPC Limited, MELE KYARI, said yesterday that the country was losing almost 240,000 barrels of crude oil worth about 1.5 billion dollars to vandals and oil thieves daily.
KYARI, who spoke at an interactive session with members of the House Committee on Petroleum Resources, also said the activities of pipeline vandals and oil thieves has substantially decreased Nigeria’s oil production to about 1.49 million barrels per day.
While assuring that the NNPC, in conjunction with security agencies and other industry stakeholders are working round the clock to restore production, KYARI sought the establishment of special courts to try those arrested in connection with oil theft and pipeline vandalism. He also expressed the hope that within the next two months, NNPC will be able to restore production to a substantial level.
-
Osun News4 days ago
Arrested OSTMS Chairman, Alowonle On Life Support, As Govt Seeks Prosecution Head of Anti-Kidnapping Squad
-
Politics7 days ago
OndoDecides: See official results collated per Local Government
-
Politics6 days ago
Tinubu sacks top government official, names replacement (photos)
-
Osun News5 days ago
Police Arrest Gov Adeleke’s aide, Alowonle
-
Politics7 days ago
OGSIEC Announces 2024 Local Government Election Results
-
Health7 days ago
Reasons you should never microwave these five foods (List)
-
Foreign5 days ago
Canadian Govt Takes Fresh Action On Study Permits, Permanent Residency For Foreign Students
-
Politics6 days ago
Serving Senator Suspended From Party Over Alleged Anti-party