11:29 - 17.07.2024

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July 17, Fineko/abc.az. Ogbonnaya Orji, Secretary General of the Nigerian Industrial Transparency Initiative (NEITI), said in a statement that the growing number of attacks in Nigeria's oil-producing regions and thefts at refineries continue to have negative impact on the country's economy.

ABC.AZ reports that noting that 4.2 billion liters of petroleum products were lost from the country's refineries between 2009 and 2018, Orji said that this is estimated at 140,000 b/d.

Orji noted that in 10 years, oil products worth $1.8 billion were stolen from the country's refineries. There are more than 200 illegal oil refineries operating in Nigeria.

Nigeria's identified oil reserves amount to about 37 billion barrels, which is 3.1% of the world's reserves. Nigeria, one of the top 15 countries in the world in crude oil production, ranks 8th in the world in terms of oil reserves and 6th in terms of oil exports.