Nigerian Oil Pipeline Runs Dry As Rampant Oil Theft Plagues Country

A 180,000-bpd pipeline in Nigeria hasn’t transported any crude across Africa’s top oil producer since the middle of June due to oil theft, a source with knowledge of the matter told Bloomberg on Wednesday. OPEC member Nigeria has been suffering for years of rampant oil theft from pipelines which has often forced operators to shut down crude links for repairs and even declare force majeure on crude loadings because oil couldn’t reach terminals on time. The pipeline targeted in the latest oil theft, Trans-Niger Pipeline, has not…