Louisiana Light • 1 day | 71.80 | -1.73 | -2.35% | |||
Bonny Light • 1 day | 73.79 | -2.29 | -3.01% | |||
Opec Basket • 1 day | 75.19 | -1.69 | -2.20% | |||
Mars US • 18 hours | 69.21 | -2.26 | -3.16% | |||
Gasoline • 10 mins | 2.592 | -0.004 | -0.16% |
Bonny Light • 1 day | 73.79 | -2.29 | -3.01% | |||
Girassol • 1 day | 75.37 | -2.68 | -3.43% | |||
Opec Basket • 1 day | 75.19 | -1.69 | -2.20% |
Peace Sour • 9 hours | 63.71 | -3.21 | -4.80% | |||
Light Sour Blend • 9 hours | 65.01 | -3.21 | -4.71% | |||
Syncrude Sweet Premium • 9 hours | 73.96 | -3.21 | -4.16% | |||
Central Alberta • 9 hours | 63.31 | -3.21 | -4.83% |
Eagle Ford • 1 day | 65.94 | -3.21 | -4.64% | |||
Oklahoma Sweet • 1 day | 66.00 | -3.25 | -4.69% | |||
Kansas Common • 1 day | 59.75 | -3.25 | -5.16% | |||
Buena Vista • 8 days | 76.15 | -1.09 | -1.41% |
While Russia has been able…
Although energy inflation has slowed…
Nigeria is the largest oil producer in Africa and truly has enough reserves to become a major exporter which could earn it the revenues necessary to transform the country and truly develop its economy. Unfortunately it is held back by constant violence, piracy, and theft of oil products.
Bloomberg concluded that between 2006 and 2009 Nigeria’s oil output was reduced by 28% due to attacks, such as kidnappings, and bombings of oil installations. The violence was drastically reduced after thousands of fighters threw down their arms and accepted a government amnesty offer in 2009.
There are a few groups, however, which still threaten and carry out attacks, successfully disrupting oil production in the area.
The Movement for the Emancipation of Niger Delta (MEND) is the largest rebel group in the oil-rich region of the Niger Delta, and it has promised to resume assaults against the petroleum industry after its suspected leader was imprisoned in South Africa.
Related article: NIGERIA: Ansaru Evolves Strategy with Apparent Hostage Executions
Henry Okah was found guilty of 13 counts of terrorism, including a bombing in the capital city of Abuja in 2010 which killed 12 people, and sentenced to 24 years in jail. Officials have always suspected that he is the leader of MEND, a claim that Okah himself has always denied. He does however boast to command the support of various armed factions within Nigeria.
Jomo Gbomo, a spokesman for MEND, stated that a “plague of attacks” will begin on the 5th of April, and “will be sustained until an unreserved apology is offered to MEND and the Nigerian government shows their willingness to dialogue.”
By. Charles Kennedy of Oilprice.com
U.S. Gasoline Prices Are Set For A Significant Decline
Iran Seizes Third Oil Tanker As U.S. Boosts Military Presence
Turkey Makes Huge 1-Billion-Barrel Oil Discovery
14,000 Inactive Oil & Gas Wells In U.S. Unplugged
Oil Prices Continue To Slip Even As Crude Oil Inventories Decline
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com