Nigeria’s state oil company, NNPC Limited, says pipeline crude oil theft has been nearly wiped out following joint efforts by defense and intelligence agencies. Just three years ago, only about 30% of crude transported through some pipelines reached export terminals, draining billions in revenue and stalling investment in the country. Now, deliveries are close to full capacity, with security tightened across the Niger Delta, the hub of Nigeria’s oil infrastructure. Authorities stress that the crackdown targeted not only local actors but also sophisticated international syndicates. With output stabilizing, Nigeria’s oil regulator projects production could climb above 2.5 million barrels per day next year—the highest since 2005—reviving optimism in the sector after years of disruption.
BusinessDay
