• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 2 hours Saudi Arabia turns to solar
  • 17 hours Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 1 hour Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 12 hours Could oil demand collapse rapidly? Yup, sure could.
  • 6 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 2 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 12 hours Gazprom Exports to EU Hit Record
  • 8 hours U.S. Withdraws From U.N. Human Rights Council
  • 1 hour Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 17 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 12 hours OPEC Meeting Could End Without Decision - Irony Note Added from OPEC Children's Book
  • 11 hours "The Gasoline Car Is a Car With a Future"
  • 10 hours What If Canada Had Wind and Not Oilsands?
  • 23 hours EVs Could Help Coal Demand
  • 5 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 1 day Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
Goldman: Expect Another Bull Run In Oil

Goldman: Expect Another Bull Run In Oil

While oil prices are tumbling,…

Shale Shifts Attention To This ‘Forgotten’ Oil Play

Shale Shifts Attention To This ‘Forgotten’ Oil Play

As the Permian becomes overcrowded,…

Nigerian Lawmakers Urge Change of Oil Well Ownership

Niger Delta Militants

Legislators from the South-South and South East regions of Nigeria have urged the federal government of the country to change the ownership rules for oil wells in favor of the communities living in the Niger Delta.

“The people of the Niger Delta region should possess at least 65 percent of the oil wells contrary to the present ownership structure where less than 10 percent of the oil blocks belong to our people,” the legislators said. The group includes the principal officers of the two regions and members of their Houses of Assembly. The Niger Delta spans the South-South and South East geopolitical regions.

The lawmakers went on to explain how the people living in the Delta are suffering not just the environmental pollution from the oil industry, along with persistent poverty, but insecurity has now been added to their woes because of the repeated attacks by various militant groups of oil production and transportation infrastructure.

These militant groups, which claim to act in the interests of these same poor communities, were condemned by the MPs, who also urged the local youth to refrain from violence and open conflict, opting instead for diplomacy and use of the “various constituted platforms.”

Related: Is Oil Going Back Under $40?

An interesting suggestion put forward by the two Houses was to assign militant groups in the Niger Delta with the task of protecting the oil production and transport infrastructure, and of preventing the rise of new militant groups. In addition, the federal government was called upon to organize its security forces better, so that they would protect the lives and property of the local communities.

Overall, the legislators blamed all the ills plaguing the Niger Delta to the disproportionate return locals get from the utilization of its natural resources and insisted that the federal government remove those ills by leaving a bigger piece of the oil revenue pie in the Delta and doing more to stamp out the violence.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Kr55 on July 18 2016 said:
    They're really legitimizing what the delta avengers are doing. Nigeria gov't between a rock and a hard place, they can't afford to give up any more revenue.

Leave a comment

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