All articles tagged with #oil theft
President Trump claimed Venezuela stole American oil, citing nationalization and asset seizures, but experts clarify that Venezuela's oil belongs to the government, and US companies had contractual rights. The history of nationalization, corruption, and legal claims complicates the situation, with the US now exploring oil exports from Venezuela amid political instability and industry decline.
Tantita Security Services Nigeria Limited, a government-contracted oil pipeline surveillance firm, has accused the Nigerian Navy of preventing its personnel from arresting suspected oil thieves. The firm claimed that the navy arrested four of its staff who were chasing the suspects on the high seas towards a naval base. Tantita criticized the navy's actions and stated that the continued detention of its personnel is a disservice to the nation.
Nigeria's state-owned oil firm, NNPC, announced that it intercepted an 800,000-liter vessel carrying stolen crude oil off the coast of Nigeria, en route to Cameroon. The vessel, owned by Holab Maritime Services Limited, had no valid documentation for the oil and will be destroyed as a deterrent to oil theft. Crude theft has been a major challenge for Nigeria, impacting its oil output. NNPC emphasized the importance of destroying vessels involved in transporting stolen crude as a strong deterrent.
Former Minister of Communications, Major-General Tajudeen Olanrewaju (retd.) has called on the Nigerian Armed Forces to report ex-militant leader Asari Dokubo to the Nigeria Police Force and the Department of State Services for investigations over allegations that the military and some cabals are behind 99% of oil theft in the country. Olanrewaju described the allegations as an attempt to bring down the military and make militancy popular to the public, and called for a commission of inquiry to be set up to investigate the claims.