NUPRC Dismisses Misleading Report on Crude Oil Losses, Cites Significant Reduction

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) refuted a report alleging Nigeria lost crude oil due to theft and metering deficiencies, emphasizing a 90% reduction in crude losses over four years. The NUPRC criticized the report's methodology and highlighted the country's progress in curbing oil theft, attributing it to collaborative efforts with security agencies and stakeholders.

The Commission emphasized the importance of accurate data and transparency in the oil sector, aligning with the Petroleum Industry Act's objectives. NUPRC's response aimed to clarify misconceptions and reinforce the positive strides made in reducing crude oil losses in Nigeria.