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Nigeria Deploys Tech To Fight Oil Theft

From TC Daily Newsletter: The Nigerian government has contracted a French data firm, Kpler to help curtail oil theft. Kpler will use satellite data and its proprietary software to monitor Nigerian waters round-the-clock, thereafter it will log information about illicit ship movements. The information will be provided to the Department of Petroleum Resources. One report estimates that Nigeria loses 100,000 barrels of crude oil per day -- $3 billion to $8 billion a year to oil thieves causing investors and multinationals to lose confidence in the oil sector.

Kpler's platform also monitors Nigerian waters round-the-clock and logs clandestine journeys by unknown ships, and changes to ships' drafts.

Kpler is also training the DPR to interpret the algorithm it logs after detailing the movement of ships bearing oil cargoes.

"This technology is a way of improving the way we do things. Of course there are problems here and there, but we don't have inherent problems," Paul Osu, the DPR's head of public affairs, told Reuters.

"Technology is the way to boost transparency of operations and improve investor confidence,"he added.

 

Wow, something like oil pirates. I have one question though, what these people are doing with all that oil production here ? Where do they sell or transfer that stollen oil, maybe trace this route or in other words who is beneficiary of all this things really ?