A report in October 2012 stated that up to 180,000 barrels of oil was being stolen each day in Nigeria. Based on the price of oil at the time of the report, the country was losing $6 Billion a year to oil theft.
90 percent of the oil stolen from Nigeria is smuggled to foreign countries, such as Ukraine, Serbia or Bulgaria or refined in Singapore. 10 percent of the oil is refined locally by gangs.
Source: “Stolen Nigeria oil ‘goes to Balkans and Singapore’,” BBC News, October 23, 2012.