Petroleum Retail Asociation PETROAN Says 500,000 Oil Barrels Meant For Local Refineries Stolen Daily

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused oil producers of diverting 500,000 barrels of crude oil daily.

The crude oil alleged to have been diverted is said to be meant for local refineries.

This is even as the group lamented that quite a number of local refineries have been abandoned due to the failure of oil producers to obey the domestic crude supply obligation.

The PETROAN made this allegation while commenting on the decision of the Nigerian Upstream Petroleum Regulatory Commission to ban the export of crude oil allocated to local refineries.

It was noted that the development on the ban of exportation of crude oil allocated to local refineries are expected to have a positive impact on the economy.

According to the statement, refining crude oil locally will enrich the petrochemical industries and agricultural sector.

It is also expected to "reduce inequalities in income, and enable Nigeria to transition from a raw material supplier to a value-added product supplier" per the PETROAN position.

PETROAN said the move would boost local refining capacity, reduce the importation of refined petroleum products, and ease pressure on foreign exchange supply.

“The exportation of crude oil meant for domestic refining has led to the abandonment of local refineries. It has been a major racketeering scheme, with producers and traders prioritising quick foreign exchange proceeds over local refining,” a statement by its Publicity Secretary, Joseph Obele, read.

“Approximately, 500,000 barrels of crude oil per day are allocated for domestic refining, but these volumes often find their way to the international market”.

While commenting, the PETROAN’s National President, Billy Gillis-Harry, urged the NUPRC to take swift action against refineries, cargo vessels, and companies that default on this policy.

Harry believes that the policy will guarantee sufficient refined petroleum products in the country, leading to price reductions and better days ahead for Nigerian consumers.

Earlier, the NUPRC in a circular warned exporters from tampering with cargoes meant for local refineries

In a letter addressed to exploration and production companies and their equity partners, the Commission Chief Executive, Gbenga Komolafe, warned that diverting crude oil meant for local refineries is a clear violation of the country’s law.

“Kindly note that the diversion of crude cargo designated for domestic refineries is a violation of the law, and the Commission will henceforth disallow export permits for such cargoes.”

“All cargoes designated for domestic refining can only be altered with the express approval of the Commission Chief Executive. The above is for your strict compliance,” the letter read.

https://saharareporters.com/2025/02/05/petroleum-retail-asociation-petroan-says-500000-oil-barrels-meant-local-refineries

Who's stealing it

Fantastically corrupt nation.

Tah! Na una dey steal am. Believe them at your own risk.

Islie:

Petroleum Retail Asociation PETROAN Says 500,000 Oil Barrels Meant For Local Refineries Stolen Daily





https://saharareporters.com/2025/02/05/petroleum-retail-asociation-petroan-says-500000-oil-barrels-meant-local-refineries

Nlfpmod

Shebi port harcourt and warri refineries dey work.

Clowns.

Gullible followers.

HellAnus
Rossiki
Throwback
Vulture Griller
Ebubu
Biodun556
Presstv
Etc

Come and see ooooo

I think say the refineries dey work oooo

CodeTemplar:
Fantastically corrupt nation.

A country can never be worse than her leaders. The country to a large extent, reflects the kind of leaders it has.

See example

https://dailypost.ng/2015/04/27/fear-grips-politicians-as-buhari-vows-to-clean-nnpc-mess/

What happened afterwards, nothing. How many were successfully prosecuted and jailed for corruption?





"......Meanwhile, President Muhammadu Buhari last Tuesday warned governors that the days of impunity, lack of accountability, and fiscal recklessness in the management of national resources are over in Nigeria.

Speaking at a meeting with the Governors in the Presidential Villa, President Buhari also vowed that funds stolen by government officials who abused their offices in the recent past will be recovered and systemic leakages stopped....."

https://desertherald.ng/treasury-looters-latest-fear-grips-corrupt-politicians/

This is the major reason they don't want Nigeria to break up. Fantastically and stupendously corrupt country

Agbadorians will be silent over this one knowing full well who is stealing the money for 2027

All I hear and read daily in this nation from leaders are complaints and excuses...!

From Security to Power sector, nothing but lame excuses.

No solutions, no pathway to change.


One would almost think it is impossible to lead African nations, especially Western Africa.

These are the folks Tinubu ...
Should be running after ...
Instead of subsidy removal and increase in taxes ....
D leakage an d stealing in Naija is fantastic....

cut the bullshit

By who? How?
No for head or with wheel barrow?

pyyxxaro:
Who's stealing it

It is not me ooooo.

Audio stealing.

Lies from the pit of hell

And you want to construct University in Ogoni... Instead of surveillance and data center where drones, and other technology are used to monitor and track those pipelines and their valdals...

Islie:
Petroleum Retail Asociation PETROAN Says 500,000 Oil Barrels Meant For Local Refineries Stolen Daily




https://saharareporters.com/2025/02/05/petroleum-retail-asociation-petroan-says-500000-oil-barrels-meant-local-refineries

Nigeria is the largest crime scene in the world. Someone inform Guinness World Records.

Doesn't this sound föolish to the ear ? You mean security agents sit back and watch vessels illegally move out such a large amount of crude oil everyday thereby negatively impacting our energy capacity and heads did not roll ? That act is nothing more than treason and all those involved must be brought to book immediately

Teenaira:


It is not me ooooo.

Nah you..ooo

Stolen by who? Like someone once Said, "Nigeria is a big crime scene". Things get stolen and no one is held accountable.

SpatialKing:
And you want to construct University in Ogoni... Instead of surveillance and data center where drones, and other technology are used to monitor and track those pipelines and their valdals...

Of what use will that be in this regard?
Did the article says it's the vandals that are stealing the 500,000 barrels of crude oil everyday?
They said oil producers in collaboration with those in power.So take note.
To mount the surveillance equipment you are talking about:by who and for who?
The same government officials and the oil producers that are the major culprits?
Abeg leave that thing..oo make them establish the school pls weda the common and the marginalized Niger Delta people go see small job do.

It is not new nah.
It is perpetrated by those who owns refineries abroad who doesn't want any local refinery to function in Nigeria.

If you think that Nigeria will be better under this ijiot call Emilokan, then you are probably running mad or about to run mad and you deserve a space in the psychiatrist hospital that Lagos governor is constructing .

This is crazy sha. Perhaps we need to do what Indonesia just did—force them to keep the gains from export in the bank for a year before accessing it.

Pacesetter123:
It is not new nah.
It is perpetrated by those who owns refineries abroad who doesn't want any local refinery to function in Nigeria.

j

Nigeria has really defied all known policies that can improve the living conditions of its people.

Enemies of the people everywhere.

Wickedness by mankind to mankind everywhere.

Lol
Una never ready talk true

I will fight this crime by typing pointless epistles and throwing insults on Nairaland and other forms of social media. These criminals have finally met their match.

Islie:
Petroleum Retail Asociation PETROAN Says 500,000 Oil Barrels Meant For Local Refineries Stolen Daily




https://saharareporters.com/2025/02/05/petroleum-retail-asociation-petroan-says-500000-oil-barrels-meant-local-refineries

Stupid allegation, this PETROAN is talking a lot these days and most of it nonsense.

When we had no refinery working on Nigeria, was the 500k barrels supposed to be piling up somewhere doing nothing? Of course the IOCs and NNPC lifted their share and sold internationally. And some of those contracts that have been in place for years are hard to break. And also asides that IOCs don't want to sell to local refiners due to credit issues. Only Dangote is very likely to pay you. The other smaller ones are huge credit risk. And FG refineries should be buying their crude from NNPC. If NNPC can't supply 150k barrels to its refineries despite owning 55%, is it Shell that should be supplying 500k with it's paltry 30%?

And at the moment there is no specific allocation of volume for domestic refining to anyone. It is supposed to be on a willing buyer willing seller basis. And it will still be in dollars anyway.

Because customs collect bribe and failing to arrest those people stealing our subsidized fuel and taking it to neighbouring countries, instead of arresting people involved, banning or strengthening customs, the majority of Nigerians whom are low income will suffer for it.

Few people let's than 10% are trampling on 90% of the people. This is evil

Funny enough the article itself doesn't mention the word STOLEN! This is why 90% of Nigerian students will fail comprehension

Again whoever put the topic out there just used that word to generate traffic!!