Crude oil theft has brought major concern to the Nigerian Upstream Petroleum Regulatory Commissaion, NUPRC, which has set in motion, measures to commence investigations of the stolen resources.
To put their action plan in motion, the Commission inaugurated a team of experts to scrutinize operators in the upstream petroleum industry in the last two years.
This action is meant to ascertain the actual volume of crude oil stolen by vandals and saboteurs in and around the country, causing the Nigerian Economy to take a heavy loss and deducing the input to the nation’s Gross Domestic Product, GDP.
Crude Oil Theft
The initiative to probe crude oil theft in the country is coming on the heels of recent allegations by some industry operators on the volume of crude stolen daily from their operations.
According to Gbenga Komolafe, the commission’s Chief Executive Officer, CEO, who made mention of the move in a statement issued on Tuesday 22, 2022, the investigative panel would commence their probe from the technical and commercial operations of oil firms.
According to him, the Commission is aware of the tragedy of oil theft, which has been a plague on the industry and had last year triggered an industry-wide initiative aimed at curbing it and increasing crude production levels; a development which followed an express presidential directive.
