Post #314

Chevron Re-falls in Love with Nigeria Falling levels of oil theft from Nigeria’s pipelines start bringing foreign companies back 🌐 Jim Schwartz, the head of Chevron’s Nigerian subsidiary, announced with great satisfaction that in 2025 the company recorded no oil theft and no attacks on its pipelines in Nigeria, promising an expansion of operations in 2026. 🔸 Before this, oil majors such as Shell, ExxonMobil, and Chevron itself had been selling off their onshore assets to local companies, in part because of widespread theft. In 2023, losses were estimated at up to 400,000 barrels per day, nearly 25–30% of total production. ⏩ A full year without theft is the longest such period in Chevron’s history in Nigeria — and it matches a broader trend. In 2025 the government finally managed to introduce measures that pushed oil theft down to its lowest level in more than a decade. 🔸 A revived interest from oil majors is hardly a reason to celebrate. It is merely a sign that some symptoms have been contained and gangs of criminal enthusiasts now cannot access the pipelines as easily as they used to. Meanwhile, corruption and shadow schemes are still persistent in the country's most lucrative sector. Ordinary Nigerians may start seeing real benefits only when transparency is established in the oil sector and the beneficiaries of the shadow oil economy inside the state are finally exposed. Devils Below