21.9m Barrels of Crude Lost to Oil Thieves

BETWEEN 14.6 million and 21.9 million barrels of crude oil out of the over 3.6 billion barrels that was produced in 2004 was stolen by oil thieves in the Niger Delta region going by the revelation by the Shell Petroleum Development Company (SPDC), Nigeria that crude oil theft by armed gangs peaked at 60,000 barrels per day (bpd) and 40,000 bpd at low periods within the period.

That is to say that the armed gangs in a total of 71 incidents deprived the country of revenue from nearly a month’s production ranging between 29 million to 31 million barrels.

AllAfrica.com