Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    ETC- Ethereum Classic Gains 6% on Listing Speculation

    June 20, 2026

    Bitcoin Climbs, JP Morgan Says BTC Trades Below Mining Costs

    June 20, 2026

    Equities Investors Lose N939bn as Banking Index Tumbles

    June 20, 2026
    Facebook X (Twitter) Instagram
    Trending
    • ETC- Ethereum Classic Gains 6% on Listing Speculation
    • Bitcoin Climbs, JP Morgan Says BTC Trades Below Mining Costs
    • Equities Investors Lose N939bn as Banking Index Tumbles
    • Industrial Court to Hear Suit Against Premium Pension Limited
    • GCR Upgrades Rand Merchant Bank Nigeria Rating to AA
    • AI Future Depends on Resilient Telecom Infrastructure – Adebayo
    • Emerging Market Sovereigns’ Use of Total Return Swaps Raises Risks
    • XRP Price Declines to $1.12 on Forced Liquidations, US Fed Tone
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Saturday, June 20
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketNews » NNPCL Uncovers Additional 165 Illegal Refineries in Niger Delta

    NNPCL Uncovers Additional 165 Illegal Refineries in Niger Delta

    Marketforces AfricaBy Marketforces AfricaJune 27, 2024Updated:June 27, 2024 MarketNews No Comments3 Mins Read
    NNPCL Uncovers Additional 165 Illegal Refineries in Niger Delta
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    NNPCL Uncovers Additional 165 Illegal Refineries in Niger Delta

    In an effort to fight against crude oil theft in the past week, the Nigerian National Petroleum Company Limited said it uncovered another 165 illegal refineries in various locations across the Niger Delta.

    An NNPCL documentary recorded between June 15 and 21, and seen by Channels Television, said about 400 incidents of oil theft and vandalism were reported by both the government and private security agencies.

    It was said that 69 illegal connections were discovered and disconnected in Bayelsa and Rivers States.

    According to the video, eight cases of oil spills owing to vandalism or illegal connections were reported across the region.

    In Warri, Delta State, an illegal loading point was said to have been discovered.

    The NNPC disclosed that 69 illegal refineries were reportedly uncovered and dismantled across several swamps in Okrika, Rivers State. The ongoing construction of an ‘oven’ for illegal crude oil refining was reportedly halted.

    Similar refining sites were uncovered in different locations in Abia and Bayelsa States

    NNPC disclosed that 19 illegal storage sites filled with stolen crude and illegally refined products were uncovered in Delta, Imo, Rivers, Abia and Bayelsa. States.

    It added that 11 vehicles were seized in Delta, Akwa-Ibom and Bayelsa States and 39 boats conveying stolen crude were confiscated in Rivers, Delta and Bayelsa States.

    It added that eight persons were arrested in connection with the incidents.

    The latest development comes on the hills of dwindling crude oil production, and the inability of Nigeria to meet its 1.5 million barrels OPEC quota.

    Recently, the NNPCL Group Chief Executive Officer, Mele Kyari, spoke on the need to fight insecurity in the oil and gas sector.

    According to Kyari, the nation’s crude oil production keeps dropping due to oil theft and vandalism.

    He said, “How do you increase oil production? Remove the security challenge we have in our onshore assets. As we all know, the security challenge is real. It is not just about theft; it is about the availability of the infrastructure to deliver the volume to the market.

    “No one is going to put money into oil production when he knows the production will not get to the market. Within the last two years, we removed over 5,800 illegal connections from our pipelines. We took down over 6,000 illegal refineries. You simply cannot get people to put money until you solve that problem.”#NNPCL Uncovers Additional 165 Illegal Refineries in Niger Delta Nigerian Treasury Bill Yield Rises by 10bps

    Banks CBN Central Bank of Nigeria FGN Investors Naira NGX Nigeria
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Keep Reading

    ETC- Ethereum Classic Gains 6% on Listing Speculation

    Bitcoin Climbs, JP Morgan Says BTC Trades Below Mining Costs

    Equities Investors Lose N939bn as Banking Index Tumbles

    Industrial Court to Hear Suit Against Premium Pension Limited

    GCR Upgrades Rand Merchant Bank Nigeria Rating to AA

    AI Future Depends on Resilient Telecom Infrastructure – Adebayo

    Add A Comment

    Comments are closed.

    Editors Picks

    ETC- Ethereum Classic Gains 6% on Listing Speculation

    June 20, 2026

    Bitcoin Climbs, JP Morgan Says BTC Trades Below Mining Costs

    June 20, 2026

    Equities Investors Lose N939bn as Banking Index Tumbles

    June 20, 2026

    Industrial Court to Hear Suit Against Premium Pension Limited

    June 20, 2026

    GCR Upgrades Rand Merchant Bank Nigeria Rating to AA

    June 19, 2026
    Latest Posts

    ETC- Ethereum Classic Gains 6% on Listing Speculation

    June 20, 2026

    Bitcoin Climbs, JP Morgan Says BTC Trades Below Mining Costs

    June 20, 2026

    Equities Investors Lose N939bn as Banking Index Tumbles

    June 20, 2026

    Industrial Court to Hear Suit Against Premium Pension Limited

    June 20, 2026

    GCR Upgrades Rand Merchant Bank Nigeria Rating to AA

    June 19, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.