PENGASSAN laments dangers of oil theft in the Niger Delta

Stakeholders in the oil sector have continued to raise alarm over the increasing rate of oil theft in the country.

The Public Relations Officer of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Chika Onuegbu told newsmen in Port Harcourt that multinational companies like Shell and Chevron might divest because of the massive corruption in the oil industry.

Onuegbu said oil thieves steal as much as 10 to 20% of Nigeria’s crude oil production.

According to him, “As we speak now, oil theft is a very serious issue. Right now, Shell is planning to divest because of oil theft. Same with Chevron, Agip, and Total, they are all planning to divest. This will directly affect our members in the oil and gas industry.

“The people who are stealing this oil, who are stealing this wealth are stealing up to 20% of our national production which can derail our democracy.

“The amount involved is bogus and when we have these kind of amounts go into different groups, Illegal groups, then you will know that it is just a matter of time because there will be serious crisis”.

He stressed that oil theft had become a menace the federal government need to tackle on time, warning that the effect of oil theft was dangerous to the economy and the existence of the Niger-Delta.

“The environmental degradation that goes into oil theft is unimaginable because I am not aware of any country in the world that this level of oil theft is going on. We have made suggestions to the government. As it is now, the matter is getting to danger line. We are worried. We think that there is need for whatever the government is doing to be fast-tracked because of the implications on the environment of the Niger-Delta, on the Nigerian Economy and on our members”, he said.