• Tuesday, July 16, 2024
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Losses to crude oil theft, sabotage drop 3.9% in 2021

Crude oil losses due to theft and sabotage decreased by 3.86 percent in 2021, the Nigeria Extractive Industries Transparency Initiative says in its audit report for 2021.

Ogbonnaya Orji, the head of the Initiative at the unveiling of the report in Abuja on Monday, said crude oil production dropped from 39.08 million barrels in 2020 to 37.57 million in 2021.

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“This decline is attributed to reduced crude oil production in that period, affecting 29 companies,” he said.