30 Jun '13, 10am

#peakoil Oil theft in Nigeria: Nigeria’s oil-rich Niger Delta region is losing its battle against organised oi...

#peakoil Oil theft in Nigeria: Nigeria’s oil-rich Niger Delta region is losing its battle against organised oi...

Nigeria’s oil-rich Niger Delta region is losing its battle against organised oil theft. According to the managing director of the Shell Petroleum Development Company, Mutiu Sunmonu, oil theft by local groups currently results in a total of $6bn per year in lost revenue to the corporate giant. Other major oil companies have also said they were losing a huge amount of money due to oil theft, and are paying huge amounts for security.

Full article: http://peakoil.com/consumption/oil-theft-in-nigeria

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