• 4 minutes China 2019 - Orwell was 35 years out
  • 7 minutes Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 11 minutes Trump will capitulate on the trade war
  • 14 minutes Glory to Hong Kong
  • 1 hour Yesterday Angela Merkel stopped Trump technology war on China – the moral of the story is do not eavesdrop on ladies with high ethical standards
  • 1 min IMO 2020:
  • 6 hours China's Blueprint For Global Power
  • 12 hours World Stocks Drop And Futures Tread Water After China Reports Worst GDP Growth In 30 Years
  • 2 hours Brexit agreement
  • 3 hours The Ultimate Heresy: Technology Can't Fix What's Broken
  • 20 hours National Geographic Warns Billions Face Shortages Of Food And Clean Water Over Next 30 Years
  • 20 hours ABC of Brexit, economy wise, where to find sites, links to articles ?
  • 20 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 13 hours Deepwater GOM Project Claims Industry First
  • 49 mins Idiotic Environmental Predictions
  • 17 hours Why did Aramco Delay IPO again ? It's Not Always What It Seems.
Trump’s Big Biofuel Package Has No Teeth

Trump’s Big Biofuel Package Has No Teeth

The Trump administration has just…

Nigeria Oil Losses Reach 900,000 Bpd Due to Militant Attacks

Oil storage

Nigeria’s losses in daily oil production due to militant attacks have hit 900,000 barrels, said Petroleum Minister Ibe Kachikwu, speaking to CNN. He added that the federal government is in talks with the militant groups responsible for this cut in production in the Niger Delta, saying that over the next couple of months, the negotiating parties will hopefully reach an agreement that will put an end to the attacks.

“We are producing some 1.5 million barrels per day and would need on average 900,000 barrels per day to catch up on what we have lost. If we can achieve peace, this will be feasible,” Kachikwu said.

This, however, would go counter to what other OPEC members are planning, or rather hoping, to do at the next informal meeting of the cartel in Algeria next month. The minister expressed doubt as to the success of such a plan, citing the meeting in Doha earlier this year, initiated by Russia, which was ready to put a cap on oil production in a bid to prop up prices, and the participants’ failure to agree on such a cap.

Attacks on production and transportation infrastructure in the Niger Delta have taken their toll on Nigeria, which used to be Africa’s biggest exporter of crude. The groups responsible for the attacks insist that local communities are being deprived of their fair share of oil revenues, left to live in poverty and pollution.

Last week, a former federal minister, Femi Fani-Kayode tweeted that Nigeria’s President Muhammadu Buhari was basically fed up with the attacks and was ready to split the country if oil was struck in the North.

“My prayer for Nigeria is that oil is found in commercial quantities in the core north. I am glad that @MBuhari is looking for it desperately. If he finds it he and the north will be the first to call for a break up of the country. If he fails to find it they will continue to be the greatest obstacle to the restructuring of our nation and they will continue to provide the greatest opposition to the peaceful division of our country. Why? Because without southern oil the north is nothing,” the former aviation minister wrote.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • GregSS on August 16 2016 said:
    Blowing up oil facilities doesn't exactly solve the pollution problem

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play