Navy Seizes N7bn Stolen Crude In February

Nigerian Navy has said its troops deployed for operation Delta Sanity confiscated stolen crude and other products worth N7,422,792,302.58 only from oil thieves in February.

A statement by the director of information at Naval Headquarters Rear Admiral Adedotun Ayo-Vaughan said the troops between February 5 to 26, 2024 discovered and destroyed three illegal refining sites, 15 ovens,two reservoirs, eight wooden boats and one fibre boat.

He said the troops confiscated about 55,120 bbls (8,764,080 litres) of product suspected to be stolen crude oil, 141,200 litres of illegally refined Automotive Gas Oil and 9,000 litres of illegally siphoned Premium Motor Spirit amounting to the sum of N7,422,792,302.58 only in the period under review.

He said the figures when compared with those of the previous week, indicates an increase in the number of ovens, wooden boats, vehicles and speed boats while a decrease in Illegal Refining Site (IRS) and reservoirs.

He however, said the number of dugout pits deactivated remained the same.

He added “the week under focus witnessed an increase in quantity of crude oil, Automotive Gas Oil (AGO) and Premium Motor Spirit (PMS) denied oil thieves during the period in focus.

This gives credence to the effectiveness of Nigerian Navy anti-Crude Oil Theft operations”.

In the week under review, he said the troops recovered   55,120 barrels of crude sold at $83.61/barrel   which amounts to $4,608,583.2

They also recovered 141,200 litres of AGO sold at  N1,226.69/litre  which amounts to N173,208,628 meanwhile, 9,000 litres of PMS sold at N610/litre amounts to N5,490,000.

Overall, he said the troops of Operation DELTA SANITY from inception to date recovered 60,815.77 barrels of crude oil, worth $5,218,273.569 or (N8,129,424,791.45), 557,580 litres of illegally refined AGO worth (N497,486,165.17) and Dual Purpose Kerosene (DPK) worth (N5,592,150).

“Cumulatively the sum of N8,632,503,106.62 only that could have been used to perpetrate acts inimical to national security and prosperity was denied to oil thieves” he said.

Furthermore, he said the troops cumulatively arrested 51 wooden boats, destroyed 104 ovens,85 reservoirs,288 dugout pits,41 illegal refining sites, three fibre boats and arrested one vehicle.