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85% of Nigeria’s stolen oil is sold abroad

02 April 2014, 18:24

Port Harcourt - A new report by London-based Chatham House has revealed that stolen Nigerian crude oil worth billions of dollars is sold and shipped to refineries abroad.

The figure of stolen crude oil shipped to refineries abroad represents 85 percent of the total amount of crude oil theft in Nigeria, reports New Telegraph.

An estimated 85 000 barrels out of the 100 000 barrels per day (bpd) of oil stolen from pipelines in the Niger Delta are sold to foreign refineries.

The theft amounts to around 5 percent of Nigeria's current 2 million bpd production.

Read more at New Telegraph.

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