In view of the massive vandalism and rising cases of oil theft in Nigeria’s oil producing region, the Director of Operations, PPC Limited, Dr. Patrick Ede, has advised the federal government on ways to reduce crude oil theft in the country. Ede while speaking on the state of the Oil and Gas industry recently, said the regular destruction of pipelines and assets of oil companies by vandals in a bid to siphon crude oil would continue to discourage further investment in the nation’s oil industry, if not addressed. He noted that many oil investors were shutting down operations in Nigeria as they no longer find oil production profitable within the current situation because of the activities of vandals, adding that some other investors are divesting their interests. He said vandalisation of oil installations was causing loss of revenue to the government, and had led to massive destruction of pipelines […]