Crude Oil Worth $750m Stolen in 2019 Says NNPC

• Crude Oil Worth $750m Stolen in 2019 Says NNPC

Mallam Mele Kyari, the Group Managing Director, the Nigerian National Petroleum Corporation, on Tuesday said the total crude oil stolen from the nation in 2019 was estimated at US$750 million.

The managing director, who spoke to the members of the Executive Intelligence Management Course 13 of the National Institute for Security Studies that visited the NNPC Towers, Abuja, decried the growing activities of crude oil criminals, adding that it hurts NNPC operations and the nation’s economy.

Kyari listed vandalism of oil and gas infrastructure and kidnapping of personnel as top security challenges facing the corporation.

He, however, said there was a connection between various insecurity challenges facing the nation, according to him, they were all linked to what was happening in the Gulf of Guinea and the entire maritime environment.

Speaking on renewable energy, the managing director, said fossil fuel would still be in demand despite global campaign to stop its usage in a move to protect the planet.

He said: “Even by 2050, fossil fuel would account for 80 per cent of the energy mix, and there would still be consumption of at least 100 million barrels of oil per day. We are determined to remain relevant in the long term.”

Also speaking was the Chief Operating Officer, Downstream, NNPC, Mr. Yemi Adetunji Adetunji, who also said most of the insecurity challenges were linked to Gulf of Guinea.

He explained that “the Gulf of Guinea accounted for more than half of the global kidnappings for ransom in 2016, with 34 seafarers kidnapped out of 62 cases worldwide.”

He added that the corporation was working on tackling the situation with ‘Operation Kurombe’ that was recently launched by the Nigerian Navy at the Atlas Cove.