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Nigeria: 65m Barrels of Crude Oil Missing
Hamisu Muhammad, All Africa
About 65 million barrels of crude oil could not be accounted for by the Nigerian National Petroleum Corporation (NNPC), between 1999 and 2004, an audit report of the oil industry has revealed.
The report compiled by the Hart Group- a United Kingdom based audit firm for the Nigerian Extractive Industry Transparency Initiative (NEITI), said the missing crude oil was due to shortfalls in the amount of crude oil sent to refineries within the period under review.
A chart in the report shows that in 1999, about 66million barrels of crude oil was sent by the Crude Oil Marketing Department (COMD) of the NNPC but the nations’ refineries received 99 million barrels within the year which shows a difference of 33 million barrels unaccounted for.
(15 Jan 2007)
Nigerians groan as fuel scarcity bites harder
In Lagos, economic activities are grinding to a halt as long motor queues at petrol stations impede vehicular and human traffic within the metropolis.
In places like Ibadan, Osogbo, Ilorin and Ile-Ife yesterday, petrol was available in only a few filling stations and sold above the approved pump price with implications for economic activities in these places.
(16 Jan 2007)