Theft Threatens Nigeria Oil Pipeline

MARKETSMarch 4, 2013, 11:33 a.m. ETIncludeTempalte Error: error retrieving template: /static_html_files/loginDart.ftl

LONDON—Nigeria's oil industry is at a crisis point because the theft of oil from pipelines and the pollution it causes are reaching intolerable levels, costing the country and oil companies billions of dollars a year, the head of Royal Dutch Shell PLC's Nigerian operations said.

Shell said the problem of oil thieves breaching its Nembe Creek Pipeline got so bad in February that it was considering shutting it—cutting off 150,000 barrels a day of crude supplies worth around $15 million a day at current market prices. The pipeline accounts for 90 kilometers (56 miles) of the 6,000 kilometers of pipelines ...

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