Raising oil losses descend to 16 years-Basso

The commission for the regulation of oil in Monte Nigerian (NUPRC) states that the oil sector upstream of the country is experiencing a significant turning point.
He said that crude oil leaks for theft and measurement problems had decreased at their lowest levels in almost 16 years.
According to the Commission, the daily losses in July stood at 9,600 barrels per day (BPD), the lowest figure recorded since 2009, when the losses went down to a minimum of all times of 8,500 BPDs.

These data were based on oil loss trends from the beginning of the year until July, released by the NUPRC and shared by Eniola Akinkuotu, head of the media and strategic communications on Thursday in Abuja.

The Commission has described progress as an important milestone in its continuous efforts to eliminate raw losses through the oil vehicles of Nigeria and the gustation infrastructure.

Between January and July, total losses of crude oil were contained at 2.04 million barrels, with an average of 9,600 BPDs during the seven months, added the NUPRC.

“This marks a clear removal from the high loss years that have long afflicted the industry.
“In comparison, the entire civil year of 2024 recorded 4.1 million barrels lost with a daily average of 11,300 barrels.
“Surprisingly, in the first seven months of 2025, the losses were cut by 50.2 percent, with only 2.04 million barrels lost in the period.
“The figures for the period concluded July 2025 also represent a dramatic drop of 94.57 percent of crude oil leaks.
“This is compared with the entire year of 2021, when Nigeria has lost a stunning 37.6 million barrels at a daily average of 102,900 barrels,” he said.
So far he said in 2025, only 2.04 million barrels have been lost, which has been a reduction of 35.56 million barrels compared to 37.6 million barrels lost in 2021, underlining the scope of the progress made in just four years.
He said that the Greggio oil losses in 2021 were the highest recorded in almost 23 years, making it the top year between 2002 and July 2025.
“From the implementation of the Petroleum Industry Act in 2021, Nigeria has recorded constant progress in reducing crude oil losses.
“In 2021, the losses stood at 37.6 million barrels, with an average of 102,900 barrels per day.
“By 2022, this dropped to 20.9 million barrels with a daily average of 57,200 barrels.
“The downward trend continued in 2023, with losses reduced to 4.3 million barrels to 11,900 barrels per day.
“In 2024 even more progress were made, since the losses were further contained at 4.1 million barrels, with an average of 11,300 barrels per day,” he said.
The Commission said that he had adopted a balanced mix of kinetic and non -kinetic strategies in facing oil losses.
On the kinetic front, the Commission said that he continued to collaborate in close contact with safety agencies, operators and communities, while on the non -Kinetic front he implemented strategic regulatory measures to close the systemic gaps.
“A key initiative is the measurement audit between the upstream structures to ensure an accurate measurement of production and exports.
“To further strengthen the control, the NUPRC under the guidance of Mr. Gbenga Komolafe has approved 37 new routes to evacuation of crude oil to fight the theft of oil,” he said.