Theft accounts for the loss of about 4,000 barrels of oil per day from Nigeria. A member of the Organization of Petroleum Exporting Countries, Nigeria has experienced a steady decline in crude oil production.
The government said delegates at a meeting of the African-Caribbean-Pacific and European Union joint assembly in Abuja discussed a certification scheme to prevent the sale of stolen crude oil.
Speaker of the House of Representatives Aminu Tambuwal said he was “pleased to note” there was wide-ranging concern for Nigeria’s state of affairs. He said the situation in the country was compounded by national security issues across much of North Africa.
ThisDay said the certification process would mirror protocols meant to ensure so-called blood diamonds don’t find their way into the international market.
OPEC said in its July report oil production from Nigeria was down 3.5 percent from May to 1.8 million barrels per day for June.
Information from UPI was used in this report.