Nigeria demolishes around 165 illegal oil refineries over past week
Date
6/30/2024 5:22:38 AM
(MENAFN) In recent developments reported by the Nigerian National Petroleum Corporation Ltd (NNPCL), significant strides have been made in addressing the rampant issue of illegal oil refining and pipeline vandalism in the Niger Delta region. According to NNPCL Group Chief Executive Officer Mele Kyari, collaborative efforts between NNPCL and the Nigerian military have resulted in the destruction of 165 illegal oil refineries and the dismantling of 39 unauthorized pipeline connections over the past week alone.
The operations, which targeted areas notorious for oil theft and sabotage, also saw the reporting of approximately 400 incidents of oil theft and vandalism. This concerted effort underscores Nigeria's ongoing struggle against economic losses estimated at over USD3 billion annually due to these illicit activities, as highlighted by Nigerian Senator Ned Nwoko.
Nigeria, recognized as one of the top 15 global producers of crude oil, possesses substantial proven reserves amounting to around 37 billion barrels, constituting 3.1 percent of the world's total reserves. Positioned as the sixth largest oil exporter internationally, the country's oil-rich Delta region remains a focal point for security challenges, characterized by armed groups engaged in sabotage activities, often resulting in conflicts and incidents of kidnapping.
These recent operations mark a proactive step towards safeguarding Nigeria's vital oil infrastructure, aiming not only to curb financial losses but also to enhance security in a region critical to the nation's economy and global energy markets.
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