Nigeria Oil Thefts Cost $7B Yearly

From Huffington Post

Energy experts say widespread thefts of crude oil in Nigeria cost the country $7 billion a year.

The International Energy Agency gave the estimate Tuesday in a monthly report on oil production around the world. The agency noted that Royal Dutch Shell PLC, the country’s largest oil producer, had already said its quarterly results would be down about 20 percent after a series of pipeline theft attacks.

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