To protect its oil pipelines and curb oil theft, which has contributed to the missing of OPEC targets and an inability to maximize on higher-than-normal oil prices, Nigeria is set to implement a security infrastructure similar to that of Saudi’s Aramco.
According to the head of the Nigerian National Petroleum Company, the new security architecture will be unveiled soon and will help stop massive oil pipeline vandalism that has resulted in the country losing 30 percent of its produced volumes to crude thieves.
Nigeria has been unable to meet its OPEC quota since the beginning of the year. Recent data from the statistics agency showed that output fell to 1.43 million barrels a day in the three months through June — the lowest quarterly production since 2016.
