Nigeria Extractive Industry Transparency Initiative, NEITI, the country’s oil industry auditors, said that three of Nigeria’s foreign oil partners, Shell, Eni and Chevron recorded a total loss of about 160 million barrels of crude oil with an export value of $13.7 billion over 2009-12.
In a statement issued yesterday by NEITI executive secretary Zainab Shamsuna Ahmed, Nigeria also lost about $1.1 billion through the crude swap for oil products program by state-owned Nigerian National Petroleum Corporation, NNPC, over the same period.
“Data from the NEITI Audit reports show that Nigeria lost about 160 million barrels of crude oil valued at $13.7 billion to crude oil theft from 2009-2012. The record was from three international oil companies; Shell Production and Development Company, Nigerian Agip Oil Company and Chevron Nigeria Limited,” Ahmed said.
The NEITI head reiterated that NNPC had yet to remit the $ 11.6 billion, dividend to the Federation Account from the exports by the Bonny LNG plant.
Oil theft remains a major headache for the government and foreign companies operating in the country.
Due to Oil theft, Shell, Eni and Chevron have sold some of its assets in the restive Niger Delta.

READ ALSO  Fuel Scarcity: FG releases fund to marketer, opens $500m LCs