Nigeria’s crude oil production fell below 1 million barrels per day (bpd) in August, and the total oil and condensates output dropped to an annual low of 1.18 million, according to figures provided by the Nigerian Upstream Petroleum Regulatory Commission.
This is the lowest daily output since 1997; Nigerian authorities blame industrial-scale oil theft for the decline: according to the state oil company NNPC LTD, at least 700,0000 bpd went missing from its exports, while some fields have been shut down across the country.
An unidentified Shell worker aboard the Bonga offshore oil vessel off the coast of Nigeria, Monday, Dec. 26, 2011
© AP Photo / Sunday Alamba)
At the same time, the Nigerian oil workers' union threatened to organize a strike if the government fails to address the issue, saying that the thieves and pipeline vandals are putting the lives of the union's members at risk.
The African nation loses millions barrels of crude every year, as security forces are not able to stop the thieves. According to the Nigerian Upstream Petroleum Regulatory Commission's head Gbenga Komolafe, over nine million barrels of oil was stolen in the first quarter of 2022 alone, resulting in about $1 billion in lost revenues.
Nigeria’s President Muhammadu Buhari has previously urged law enforcement agencies to tackle theft, noting that its consequences are "enormous."