Breaking: Aiteo Terminates Security Contracts Over Crude Theft and Fraud

Aiteo Terminates All Contracts with Security Providers, Amotoi Global Services and Others

he full text of Aiteo’s statement reads:

The termination of these contracts is part of Aiteo’s broader strategy to overhaul its security measures and mitigate risks associated with criminal activities that threaten the oil and gas industry in Nigeria. The company has notified all relevant regulatory and governmental bodies within the oil and gas industry, as well as law enforcement and security agencies, about the contract terminations and the reasons behind them.

Aiteo’s actions highlight the challenges of securing oil installations in regions prone to high levels of criminal activity, including theft and vandalism. The company’s proactive measures reflect a growing recognition among Nigerian oil producers of the need to adopt more strict security protocols and engage with entities that demonstrate integrity and reliability.

As the situation develops, Aiteo has reiterated its commitment to maintaining the highest standards of operational security and integrity. The company also calls for increased collaboration and support from governmental and regulatory agencies to tackle the systemic issues plaguing the industry, ensuring that oil production can proceed without the threat of criminal interference.

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