There are indications that Nigeria has lost significant oil as a result of increasing pipeline vandalism and oil theft in the Nigeria Delta. Investigation by Vanguardover the weekend showed that many oil companies, including the International Oil Companies, IOCs and indigenous producers have been affected. For instance, the latest report obtained from Shell Petroleum Development Company, SPDC, indicated that the company, apparently the highest producer with over 600,000 barrels per day, bpd, experienced 39 cases of vandalism and oil theft between January – April, 2019. A breakdown showed that 12, 15, eight and four incidents were recorded in January, February, March and April 2019 respectively. IOCs In its latest Briefing Notes, Shell stated: “Security remains a high priority due to continued crude oil theft and criminality in parts of the Niger Delta. Illegal refining and third-party interference are the main sources of pollution in the Niger Delta today. Third […]