• 8 minutes U.S. Shale Oil Debt: Deep the Denial
  • 13 minutes WTI @ $75.75, headed for $64 - 67
  • 16 minutes Trump vs. MbS
  • 1 hour Despite pressure about Khashoggi's Murder: Saudi Arabia Reassures On Oil Supply, Says Will Meet Demand
  • 6 hours Dyson Will Build Its Electric Cars in Singapore
  • 6 hours China Opens Longest Mega-Bridge Linking Hong Kong to Mainland
  • 2 hours Why I Think Natural Gas is the Logical Future of Energy
  • 38 mins Iraq war and Possible Lies
  • 18 hours Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 4 hours The Balkans Are Coming Apart at the Seams Again
  • 3 hours How Long Until We Have Working Nuclear Fusion Reactor?
  • 1 hour Satellite Moons to Replace Streetlamps?!
  • 2 hours Can “Renewables” Dent the World’s need for Electricity?
  • 5 hours These are the world’s most competitive economies: US No. 1
  • 2 hours World to Install Over One Trillion Watts of Clean Energy by 2023
  • 20 hours EU to Splash Billions on Battery Factories
Oil Majors Win Big In New NAFTA Deal

Oil Majors Win Big In New NAFTA Deal

The recent renegotiation of NAFTA…

Eni’s Nigeria Pipeline Attacked For The Fourteenth Time This Year

Pipeline Explosion

An Italian Eni pipeline has been attacked again, for the fourteenth time this year, putting 4,200 barrels of oil per day of Eni production offline amid a resurgence in militancy.

An Eni spokesman contacted by UPI confirmed the attack late on Saturday on the Ogbaimbiri-Tebidaba pipeline in Bayelsa state.

Nigerian officials attributed the attack to a gang of armed youths, who vandalized the pipeline along the Azuzuama axis using dynamite.

One of the attackers has reportedly been arrested, but Nigeria media are reporting that the pipeline is still on fire.

Related: The Biggest Winner Of The Oil Bust: Interview With Aeromexico

The attack follows a similar attack on an Eni pipeline last week and attacks on oil installations run by Shell and Chevron earlier this month.

According to African media reports, residents are now fleeing the area following clashes between rival armed groups at an oilfield operated by AGIP Oil Company (NAOC)—a subsidiary operated by Eni’s Nigerian subsidiary. Media have cited residents as saying that rival groups are fighting for control of the Ogbaimbiri-Tebidaba crude trunk line that runs through this region.

Related: Shareholders Outraged At BP, Shell CEO Pay Packages

The latest attack also came a day after President Muhammadu Buhari moved to step up the military’s presence in the Niger Delta as attacks on oil installations have gained sudden momentum, resulting in a significant drop in oil output, which some say has reached a two-decade low.

Nigeria’s oil production has plunged by 40 percent, falling to just 1.4 million barrels per day. "Because of the incessant attacks and disruption of production in the Niger Delta, as I talk to you now, we are now producing about 1.4 million barrels per day," Nigeria’s oil minister Emmanuel Ibe Kachikwu said last week, according to Reuters. "We were at 2.2 million bpd but we have lost 800,000 barrels.”

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News