• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Sunday, October 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Expert urges Nigeria to block stealing of crude to increase production

Oil

The Matters Press by The Matters Press
June 5, 2022
Reading Time: 1 min read
0
Group bemoans level of crude oil theft

An oil and gas expert, Mr Olabode Sowunmi has underscored the need to block the leakage points of stolen crude oil in the country to increase production output.

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Sowunmi was on Sunday in Abuja reacting to the increase on Nigeria’s oil production quota by the Organisation of the Petroleum Exporting Countries (OPEC).

OPEC had increased Nigeria’s oil production quota from the 1.772 million barrels per day (mbpd) target approved in June to a new target of 1.799 mbpd for July.

Nigeria’s production output averaged 1.42mbpd in May.

He said that the U.S. had been putting a lot of pressure on OPEC to increase output (production output) so that the current high prices of crude oil would fall.

According to the expert, that is at the root of the increments.

However, he said that the recurrent theft via the pipelines in the upstream of the oil sector was enormous and unprecedented.

He recalled that popular cleric Dr Enoch Adeboye once called on the Federal Government to address why such a huge and unprecedented volume of theft was being stolen.

“This is the first time such commentary will be coming from such quarters.

“To put the amount stolen into perspective, Heirs Oil, the new upstream company by Tony Elumelu complained that 85 per cent of the crude they produce is stolen.

“So if 100 litres of crude is pumped only 18 litres is realised at the end of the transportation network.

“So what needs to be done to increase output is to block the leakage points of stolen crude in the country,” he advised.

Tags: Oil
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
Horror as gunmen attack Church, kill worshippers

Horror as gunmen attack Church, kill worshippers

Nestle train 30,000 farmers to meet demand

Nestle provides 39.5m bottles of infant formula to U.S.

Recommended Stories

CIIN president tasks Insurance directors on manpower development

Insurance claims hit N318.2bn

March 23, 2023
CAC, Pakistani investors on economic diversification

CAC unveils electronic system for financial statements filing

November 23, 2022
NBS reports increase in Inflation

December 16, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us