According to the Nigerian National Petroleum Company Limited (NNPCL), one of its major oil export terminals had an unlawful connecting line leading into the sea for nine years.
According to Reuters, NNPC CEO Mele Kyari revealed this late on Tuesday when testifying before a joint senate committee on upstream, downstream, and gas.
Mr. Kyari remarked that the rate at which oil theft has recently escalated was astonishing, despite the fact that it has been happening in Nigeria for more than 22 years.
He asserted that during a theft crackdown in the preceding six weeks, a connection into the water that was four kilometers (2.5 miles) long and capable of carrying roughly 250,000 barrels of oil per day (bpd) from the Forcados export facility was discovered.
“Oil theft in the country has been going on for over 22 years, but the dimension and rate it assumed in recent times is unprecedented,” Mr Kyari said.
The head of NNPC claims that Nigeria, Africa’s largest oil exporter, loses 600,000 barrels’ worth of income per day due to oil theft. He also said that oil corporations would rather not supply pipelines used by thieves than idle some fields.
It’s unusual to see an illegal pipeline in the ocean, which suggests a more sophisticated theft scheme than the pipelines on land that thieves typically employ to steal oil.
Loading at the Forcados terminal has been halted ever since a subsea hose leak was found there on July 17.
Tony Elumelu, the chairman of Heirs Holding, claimed in March that under the presidency of President Muhammadu Buhari, Nigeria was losing 95% of its crude oil to looters.
Mr. Elumelu complained that the daily 3,000 barrels of crude oil received by Bonny Terminal should be increased to 200,000 barrels.