Thursday, 27 March 2014

Nigeria Sets Aside US$1bn To Fight Oil Theft...

Oil theft...

Programme will curb vandalism and boost prosecutions.

NIGERIA’S government has created a US$1bn fund to prevent crude oil theft and vandalism of oil and gas infrastructure in the country.

President Goodluck Jonathan said on Sunday at a meeting in The Netherlands that a technical committee has already been set up to investigate how to implement the programme.

Bust Oil pipe
The measures will enhance security at oil pipelines and boost the capture and prosecution of oil thieves, Jonathan said. Oil theft in Nigeria is rife, and is regularly blamed for spills that have caused widespread environmental damage and frequently shut down operations.

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