Nigeria To Track Oil Output, Sales To Prevent Theft - Energy Intelligence

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Nigeria To Track Oil Output, Sales To Prevent Theft

In a bid to prevent oil thefts and curb revenue losses, Nigeria will start tracking this year the volume of its crude oil output and sales volumes and destinations, oil minister Emmanuel Ibe Kachikwu said in an address on the 2017 outlook for Nigeria’s petroleum sector. “This year, we are going to commit to try tracking our oil so that from the moment one molecule is produced to the time it is sold and where it is sold, we will be able to track that and if we do that, we envisage billions of dollars in savings for the federal government,”…
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