Sunday, September 4, 2011

Fundamentals Of Illegal Oil Bunkering In Nigeria - Wikileaks

MUST READ - excellent oveview of the "blood oil" economy from a credible source
3 September 2011

[Date of Cable?? Appears to be late 2009 or early 2010]

SUMMARY: Oil theft, widely referred to as "illegal bunkering" in Nigeria, represents a significant economic activity with serious ramifications for Nigeria's economy, security, democracy and environment.  The widespread association of illegal bunkering with militant activity obscures some of the most detrimental aspects of this large-scale, unofficial sector of the economy.  Oil theft ranges from siphoning off tiny quantities of crude oil from rusted and ruptured pipelines by individual villagers for private use to sophisticated and difficult to quantify "creative accounting" on the part of well-placed individuals.  Illegal bunkering and its dependent economic sectors have replaced legitimate economic activity in large parts of the Niger Delta.  END SUMMARY.

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