Oil Theft: Military Seizes 700,000 Litres of Stolen Crude Oil in One Week
As part of their attempts to end oil theft, the Nigerian military has reported that they have recovered around 700,000 liters of stolen crude oil after a week-long operation in the Niger Delta region.
Leading defense spokesman Major-General Edward Buba revealed this information in an Abuja statement on Saturday.
Security forces in the Niger Delta region, according to Buba, carried out an operation that resulted in the capture and release of 133 people, the arrest of 36 alleged oil thieves, and the confiscation of about 270 guns and over 5,000 rounds of ammunition.
Buba added that the forces destroyed twenty-one boats, fifty dugout trenches, twenty-one storage tanks, and more than twenty illegal oil refinery plants.
He said that suspected oil theft profits totaling over N637.7 million had been apprehended by security forces.
Security personnel crack down on terrorists
The military spokesman went on to say that after a week-long operation, radical insurgent organizations in the North and oil thieves in the South suffered significant losses.
Throughout the operation, the troops were able to apprehend hundreds of individuals and confiscate a large number of weapons.
Buba also verified that many kidnap victims were successfully rescued, in addition to the arrests and seizures.
The forces were able to capture hundreds of suspects and seize numerous weapons during the operation.
“The armed forces are working decisively to kill the terrorists, stop insecurity, and ensure the safety of citizens. Troops will continue to operate with tremendous force against the terrorists across the country,” Buba said.
What you should know
The persistent issue of oil theft in the Niger Delta region remains a significant challenge, as military forces routinely uncover new illegal operations week after week.
This situation presents a significant challenge for the Federal Government as Nigeria continues to fall short of its Organization of Petroleum Exporting Countries (OPEC) quota because of rampant oil theft in the country.
Nigeria’s oil production has further decreased to 1.2 million barrels per day, according to the OPEC report from March. This has a detrimental effect on the nation’s revenue and foreign exchange profits.
According to analysts, fighting oil theft is therefore crucial for both national security and Nigeria’s economy’s survival.
