Nigeria Achieves 16-Year Low in Crude Oil Losses, NUPRC Reports

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported a significant decrease in crude oil losses, reaching a 16-year low of 9,600 barrels per day in July. This marks a substantial improvement in combating crude oil theft and metering issues in the nation's upstream oil sector.

The NUPRC attributed this achievement to its relentless efforts to eliminate crude losses across Nigeria's oilfields and pipelines. The reduction in crude oil losses signifies a major milestone in the industry's fight against theft and operational inefficiencies, with the NUPRC emphasizing the progress made in curbing losses and enhancing regulatory oversight.