Skip to main content

Nigeria attacks may rise but oil firms stay put

Reuters.com: "ABUJA (Reuters) - A wave of violence targeting Nigeria's oil facilities shows no sign of abating and may get worse, analysts and security experts say.
Nearly a fifth of Nigeria's oil supply capacity, or some 515,000 barrels per day (bpd), is shut in due to violence in the Niger Delta region in southern Nigeria, where nearly all of the West African country's hydrocarbons are produced.
However, high oil prices and tight global supplies are giving energy companies reason enough to stay put in Africa's top oil producer.
'What is happening now in the Niger Delta is bad, but it's not the worst it has ever been,' said Kissy Agyeman, Africa security analyst at Global Insight. 'The lure of the natural resources in Nigeria still outweigh the risk at the moment"

Popular posts from this blog

Sudan poll boycott threatens peace

AlJazeeraEnglish — April 06, 2010 — South Sudan's main political party has announced a partial boycott of the elections scheduled for April 11. The Sudanese People's Liberation Movement (SPLM) has withdrawn its candidates from local and parliamentary polls in North Sudan.  A History of Modern Sudan