EMEA News
NNPC Bans 113 Oil Tankers from Nigerian Waters
A crackdown on illegal crude oil trading is the reason cited for Nigeria state oil company NNPC imposing an immediate ban on the movement of 113 tankers, local media reports.
The vessels consist mainly of VLCC crude oil tankers, and a directive issued by NNPC president Muhammadu Buhari prevents them from operating in Nigerian waters and calling at the country's crude oil terminals.
The directive was cited in a letter circulated by NNCP and dated July 15, and traders say the list of banned vessels includes tankers that have recently called on ports as well as others that have not done so for years.
Although the reason for the ban was not included in the letter, traders believe it is an attempt to stop illegal trading.
The letter states that the directive is "pending a notice to the contrary by government."
The crackdown follows Nigeria's Economic and Financial Crimes Commission last month arraigning 14 foreigners, who, along with Monjasa DMCC and Glencore Energy UK Limited, were charged with illegal bunkering.
The crackdown also comes over a year after Nigeria's Department of Petroleum Resources announced it would stop the theft of crude and petroleum products and increase oil revenues by legalizing the supply of oil products to vessels anchored offshore.
