Nigeria: Another heavy attack by Militants on oil pipelines

by Obi-Akpere | June 21, 2008 at 11:08 am | 206 views | 4 comments

Nigeria loses another 120,000 barrels per day

Nigerian militants blew up a key oil supply pipeline operated by Chevron, in the latest attack targeting the country's multi-billion-dollar oil industry, company and military sources said Saturday.

The US oil giant was forced to shut down operations as a result of the attack Friday in the volatile Niger Delta, halting output by 120,000 barrels per day, an industry source said.

The latest attack came a day after Anglo-Dutch oil giant Shell said it could not promise to deliver 225,000 barrels per day for June and July following an unprecedented raid on its offshore Bonga oilfield.

Unrest in the Niger Delta has reduced Nigeria's total oil production by a quarter in the past two years, and the losses have contributed significantly to the recent surge in world oil price

However industry sources said Chevron had declared force majeure, halting 120,000 barrels per day output.

Force majeure is a legal clause allowing producers to miss contracted deliveries because of circumstances beyond their control. Shell also declared force majeure on 225,000 barrels per day for June and July deliveries on Friday

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Caoimhin1

at 11:33 on June 21st, 2008

good stuff:

Obi-Akpere, I like this story. It's good stuff.

Obi-Akpere

at 11:55 on June 21st, 2008

Thanks Caoimhinl. This is going to affect world soaring oil prices.

politisite

at 15:26 on June 21st, 2008

fishy:

Hey Obi-Akpere I found some things that didn't pass my sniff test. Could it be... fishy??? You might want to fix some stuff up or else it's headed to the bottom of our bird cage. Want me to get particular? The story came from the

Agence France-Presse (AFP)

tp://ca.news.yahoo.com/s/afp/080621/world/nigeria_oil_unrest_chevron_5

You Must quote your source material. You must not post full articles of someone elses work as your own. AFP also owns the rights to the photo you used here. Unless you took the photo and wrote the article, you must make the changes I have requested. Please contact me about this issue.

Please take care of these issues

Thanks.