• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 10 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 hours How Far Have We Really Gotten With Alternative Energy
  • 5 hours If hydrogen is the answer, you're asking the wrong question
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 18 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
Bullish Sentiment Finally Breaks Out in Oil Markets

Bullish Sentiment Finally Breaks Out in Oil Markets

Bullish sentiment is finally seeping…

Bitcoin’s Success May Be Its Downfall

Bitcoin’s Success May Be Its Downfall

Bitcoin is on the brink…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

NPDC Pipeline Set Ablaze Less Than 24 Hours After Vice Presidential Visit

Nigerian Vice President Yemi Osinbanjo’s visit to the Niger River Delta didn’t usher in the period of peace for which Lagos had hoped.

Less than a full day after the senior official’s departure, gunmen—suspected militants associated with the struggle to repatriate the Delta’s oil resources—set on fire a crude oil pipeline in Ughelli on Tuesday.

The line belonged to the Niger Petroleum Development Company (NPDC) and stood ablaze around 4:30 p.m. behind the SETRACO construction yard.

Local residents suspect that the incident may not be associated with groups such as the Niger Delta Avengers, which have spent the past year demanding that the federal government improve the quality of life of those living in some of Nigeria’s most oil-rich areas.

“The cause of the incident is as a result of bush burning,” an anonymous security source quoted by Vanguard said. “Someone set fire on the area and the pipeline, which had some crude oil spill on it and the surrounding environment went up in flames, sending huge balls of flame into the air. We are ensuring the maximum protection of oil and gas facilities in the area and I can assure you that there would be no form of attacks on oil facilities in the area like in the past.”

Osinbanjo addressed the reality of an oil-less future during his visit to the oil-producing region on Monday.

“America has stopped buying oil from us,” he said. “All the countries of Asia that buy oil from us are building alternative means of power - China and Japan are developing electric cars. In fact, Japan has more charging stations than petrol stations and solar power is getting cheaper.”

“In another 20 to 30 years, our oil won’t be as precious as it is today and that is reality,” Osinbajo added.

ADVERTISEMENT

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News