LAGOS SEPTEMBER 8TH (NEWSRANGERS)-Members of a Nigerian oil workers’ union are threatening to go on strike if the government does not do more to stem widespread oil theft they say is putting their safety at risk and has cut exports by hundreds of thousands of barrels. Workers with the Petroleum and Natural Gas Senior Staff…
LAGOS JANUARY 9TH (NEWSRANGERS)-2021 ended with a report that Nigeria experienced a deficit of almost 200 million barrels of crude in the first 11 months of the year, mainly due to oil theft. But these experiences are all too common, and not limited to Nigeria alone. Year on year, we are seeing huge oil losses…
LAGOS JUNE 20TH (NEWSRANGERS)-Nigeria lost N851.84 billion ($2.78 billion) to oil theft and pipeline sabotage in 2019. This was disclosed by the Nigerian Extractive Industry Transparency Initiative (NEITI) latest oil and gas industry audit report. The agency stated that it arrived at the estimate after using an average price of $65.61 per barrel and an average…
LAGOS MAY 20TH (NEWSRANGERS0-Multinational oil giant Shell has revealed its intention to withdraw from Nigeria’s onshore oil sector. Making this known at Shell’s annual general meeting on Tuesday, the CEO, Van Beurden, said his organisation was in talks with the Nigerian government to work out how to exit its onshore licenses. Mr Beurden explained that…