Theft hurts Nigeria’s oil output but crackdown intensifies
ABUJA, Nigeria (AP) — Nigeria is losing 470,000 barrels of crude oil per day to theft and pipeline vandalism, regulators say, and has now lost its status as Africa’s largest crude producer to Angola.
With the decline, Nigeria has dropped to fourth place among Africa’s largest crude-producing countries, according to the International Energy Agency’s latest oil market report released this week.