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6 Pages

Reforming Nigeria's oil industry: Buhari's crude theft problem


Reforming Nigeria's oil industry: Buhari's crude theft problem

Report summary

Crude oil theft remains a major source of lost revenue for the Nigerian government and its upstream partners. Since 2008, more than US$100 billion in revenue has been lost through illegal bunkering and outages that occur as a consequence of shutting in damaged pipelines to make repairs.
Following his election, President Buhari indicated that plugging the leaks in government revenue is his top priority.  But eradicating the problem will not be easy.  Policing the extensive network of pipelines in the Niger Delta is very difficult. Also standing in his way will be those profiting from illegal bunkering. He will need to address poverty, the root cause of bunkering, whilst a dogged resolve and the support of Nigerians and the international community will be required if he is to win the war on crude theft.  

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  • Reforming Nigeria's oil industry: Buhari's crude theft problem PDF - 491.05 KB 6 Pages, 0 Tables, 6 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

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  • Executive Summary
  • A bespoke Nigerian problem
  • Follow the oil spills
  • The majors pull back from onshore and shallow water
  • An uphill task for Buhari

In this report there are 6 tables or charts, including:

  • Executive Summary
    • Crude oil production and losses due to sabotage
  • A bespoke Nigerian problem
    • Oil production by theme 2008-2020
    • Onshore and shallow water oil production by participation
  • Follow the oil spills
    • Reported spills 2006-2015
    • Reported incidents of sabotage by operator 2006-2015
    • Map of reported spills 2011-2015
  • The majors pull back from onshore and shallow water
  • An uphill task for Buhari
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