40% of crude oil losses caused by measurement inaccuracies – NUPRC

Approximately 40 per cent of the volumes of crude oil losses in the Nigerian petroleum industry are due to measurement inaccuracies and not theft, the Nigerian Upstream Regulatory Commission (NUPRC) has said.

The Chief Executive of the NUPRC, Gbenga Komolafe, made this known in a statement on Sunday.

Mr Komolafe said the revelation followed a forensic audit on crude theft numbers, conducted by the commission covering the period from January 2020 to November 2022.

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