Business
PENGASSAN Fingers Military In 600,000-barrel Daily Stolen
Published
3 years agoon
By
Editor
The Petroleum and Natural Gas Senior Staff Association of Nigeria has said that the military should be held responsible for the high rate of crude oil theft in the country.
This was made known at the Senate’s investigation into oil lifting and theft on Wednesday, which was chaired by Senator Akpan Bassey.
The National President of PENGASSAN, Festus Osifo, said oil theft was a collaborative crime between military personnel assigned to protect oil installations and the locals running illegal refineries.
He alleged that the military and other security agencies were aiding and abetting criminals to steal the crude with the active connivance of the regulatory agencies in charge of the nation’s petroleum industry.
Osifo, therefore, challenged the regulatory agencies and various security outfits to be alive to their responsibilities in order to solve the problems.
READ ALSO: PENGASSAN Blames Fuel Scarcity On Lack Of Forex
He specifically alleged that men of the Amphibious Brigade in Port Harcourt and their counterparts in the Navy, in connivance with superior officers at different times, joined the locals in the theft.
Osifo alleged, “One of the greatest problems we have, which nobody has highlighted, is that there is strong connivance of our security forces in the crime. There is no doubt about this. From our Army to our Navy officers, we have information that they pay their superiors to post them to some areas in the Niger Delta.
“I can authoritatively inform this committee that men of the Nigerian Army and the Navy pay their superiors to be posted to Niger Delta. Even when the former Commander of the Amphibious Brigade in Port Harcourt was removed, many of the men in the command resisted being posted out due to the ‘lucrativeness’ of their operational areas.
“I think the people who have a solution to this problem are not even the ones sitting here. They are the ones you will invite behind the camera”.
Also, the Executive Commissioner, Corporate Services and Administration in Nigerian Upstream Petroleum Regulatory Commission, Mr Jide Adeola, said about 600,000 barrels of crude oil were stolen per day.
He said, “As of today, Nigeria produces 1.23million barrels of crude oil per day as against 1.8million barrels targeted, leading to total revenue loss, as of today, of $2.1billion or N877billion.”
Worried by the submissions, the Chairman of the Committee, Akpan Bassey, said he had never seen “economic sabotage of this magnitude and it must be stopped.”
“The required political will through the instrumentality of legislative intervention shall surely be done after meeting other critical stakeholders like the Nigerian National Petroleum Corporation Limited, the Military, etc,” he noted.
The Senate also lamented that the country was losing over 900,000 barrels per day to oil thieves, stressing that the massive oil theft would crumble the economy.
Bassey said if the ongoing theft was not immediately stopped, it would also frustrate the implementation of the Petroleum Industry Act passed into law last year by the National Assembly.
Speaking at the investigative hearing on the experience of the committee during its oversight visit to major platforms in the Niger Delta, the senator expressed shock over the humongous loss of national oil revenues due to oil theft and sabotage.
Bassey stated that the committee discovered that pipelines carrying crude oil could not be identified because they were covered with no right of way, making it difficult to monitor these pipelines.
He told the stakeholders that the shortfall in the country’s oil revenues was not caused by oil theft alone but also by the inability to have evacuation access, effective metering and monitoring by operators as well as the unwillingness of security agencies to checkmate the incidents.
He lamented that the Bonny Terminal, which hitherto produces 60,000 barrels per day, had not produced a single barrel for the past seven months.
Also speaking at the occasion, the Senate President, Senator Ahmad Lawan, who had declared the investigative hearing open, said it was the view of the Senate that oil theft impacted negatively on the country’s oil production and revenues, hence its decision to set up the committee to come up with a workable template to arrest the situation.
READ ALSO: Fresh Fuel Scarcity Looms As PENGASSAN Threatens To Shut Down Installations Over Oil Theft
Lawan, who was represented at the occasion, also charged stakeholders to come up with a plan to end this national challenge.
He said, “It is regrettable that the criminals are perpetrating the unfortunate crime with the active connivance of stakeholders, including security personnel.
“The Senate will stop at nothing to unveil the criminals behind the crime and that is why we set an ad hoc committee to unravel the thieves and come up with workable solutions to end the menace, before December this year.”
A member of the committee, the senator representing Kano South senatorial district, Senator Kabir Kaya, noted that while Nigeria’s OPEC quota was 1.8 million BPD, the country currently produces 1,2 million BPD, showing a shortfall of 600,000 BPD. He challenged the stakeholders and the operators to find a solution to this problem.
PUNCH
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Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
Published
2 weeks agoon
August 14, 2025By
Editor
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.
It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.
This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.
READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume
The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.
“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.
This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.
The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.
This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.
The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.
READ ALSO:Dangote Refinery Gets New CEO
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
Business
Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US
Published
3 weeks agoon
August 11, 2025By
Editor
India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.
This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.
According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.
Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.
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The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.
Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.
Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.
According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.
READ ALSO:
Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.
On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.
In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.
“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.
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