Lagos - Nigeria and oil majors are losing $30 million to pipeline vandalism and oil theft in the Niger Delta on a daily basis, reports New Telegraph.
Diezani Alison- Madueke, Minister of Petroleum Resources, gave the figure in the United States while speaking at this year’s Annual CERAWeek.
She noted that oil theft in the past three years has been as high as 100 000 to 300 000 barrels per day.
She described the situation as regrettable, saying a key step in controlling the stolen supply was to work with other countries to dry up the market for the stolen crude oil.
Read more at New Telegraph.
For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.