Author : Mobolaji Johnson Agboola
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659795336
Total Pages : 116 pages
Book Rating : 4.7/5 (953 download)
Book Synopsis Bunkering in the Nigerian Oil and Gas Sector by : Mobolaji Johnson Agboola
Download or read book Bunkering in the Nigerian Oil and Gas Sector written by Mobolaji Johnson Agboola and published by LAP Lambert Academic Publishing. This book was released on 2015-10-20 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book undertook a careful examination of oil bunkering in the Nigerian oil and gas sector and its effect on Nigeria's economy. It seeks to clarify the embarrassing misconception between oil bunkering and crude oil theft in Nigeria. It further reveals that, oil bunkering is a legitimate downstream business contrary to public belief as illegal on the face of it, as it primarily involves the fueling of ships with bunker oil. Oil bunkering becomes illegal when the requisite licence has not been obtained from the Department of Petroleum Resources (DPR) or where the licence is invalid. Economic sabotage becomes inevitable when over 400,000 barrels of crude oil are stolen per day, which are illegally refined and routinely sold off with a barge to bunker ships with such illegally refined bunker oil. Oil bunkering being a legitimate business undoubtedly will bring about economic prosperity where things are done according to law and the elimination of attendant factors.