A Review of the Nigerian Energy Industry

Oil Theft: House to probe IOCs

16 December 2014, Abuja – The House of Representatives on Tuesday resolved to compel the Chief of Naval Staff (CNS), Vice Admiral Usman Jibrin to identify international oil companies involved in the coastal waters oil theft.

The House yesterday also passed a resolution urging the Nigeria Electricity Regulatory Commission (NERC) to stop its plans to increase electricity tariff across the country.

House-of-Rep-300x2011The House also resolved to investigate the CNS’ allegation  of oil companies in Nigeria which aid and abet oil theft in the country’s coastal waters.

Prompted by a motion moved by Hon. Hassan Saleh (PDP, Benue), who said the problem “calls for serious concern from all, particularly with the nature of information at his disposal,”
said the oil companies have not been giving the desired cooperation to the Nigerian Navy.

“This is the most disturbing as the Chief of Naval Staff has also accused some of those oil companies of creating an enabling environment that aids oil bunkering.

“The issues of oil theft is one major economic challenge that is facing the country, as it is adversely affecting the nation’s financial well-being, leading to the loss of several billions of dollars.”

The lawmaker lamented that only few “unpatriotic elements” have been profiting from the country’s wealth at the expense of the vast majority of citizens.

He said the Naval Staff boss made the allegation “to express his dismay and frustration at the nonchalant attitude of some of the Chief Executive Officers of the International Oil companies.”




– This Day

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