Mart Resources Inc MAUXF

oil losses/pilfering

[carlos6]

On the scale that it is happening it can't be local yocals; so it has to be some sort of organized crime.

That means local officials or military who are probably being paid to act as protection while professional traders in oil skim the oil & re-sell on the open market. Only in Africa!!!

 

carlos

[albertaoildude]

It's not theft, it's metering. It happens here everyday and that's why most companies like Encana for example have there meters proved every six months. 2 meters will rarely jive unless they are tested and proved at the same time, it may be losses, or gains, depending on who's metering is out, maybe both and who is claiming inaccuracies. I believe they said they know its metering

[Public_Heel]

That's a good one. When the "metering" works in our favor, or is even within 5% of correct, I'll consider viewing your statement as possibly not being ridiculous. if it were just random meter problems, it would even out over the whole of Nigeria. Instead, the Nigerian oil minister thinks they are losing 400k bbls/day, or 1/6 of production.  

[BlindBat_1]

It's not theft, it's metering. It happens here everyday and that's why most companies like Encana for example have there meters proved every six months. 2 meters will rarely jive unless they are tested and proved at the same time, it may be losses, or gains, depending on who's metering is out, maybe both and who is claiming inaccuracies. I believe they said they know its metering