• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 9 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 9 hours California's Oil Industry Collapses Despite Shale Boom
  • 14 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 2 hours Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 18 hours IMO2020 To scrub or not to scrub
  • 13 hours UK Needs New Wind Turbines
  • 12 hours Will Canada drop Liberals, vote in Conservatives?
  • 5 hours Shale to be profitable in 2019!!!
  • 8 hours Greenpeace Blocks BP HQ
  • 4 hours DUG Rockies: Plenty Of Promise, Despite The Politics
  • 18 hours The Consequences: Full-Blown Trade War Will Push World Towards Recession
  • 15 hours Australian Voters Reject 'Climate Change' Politicians
  • 15 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 14 hours methanol fuel cells
  • 8 hours Get First Access To The Oilprice App!
  • 15 hours Wonders of Shale- Gas,bringing investments and jobs to the US
Saudi Arabia’s Oil Addiction Won’t End Anytime Soon

Saudi Arabia’s Oil Addiction Won’t End Anytime Soon

Saudi Arabia remains reliant on…

A Double Dose Of Chaos For Oil Markets

A Double Dose Of Chaos For Oil Markets

An escalating trade war between…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Nigeria’s Buhari Selects New Leadership for National Oil Firm

Buhari Nigeria

A new board of directors for the Nigerian National Petroleum Corporation (NNPC) has been announced by the country’s President Muhammadu Buhari, focusing media attention further on the West African country and major global oil producer.

Dr. Maikanti Kacalla Baru will become the company’s new managing director, replacing oil minister Emmanuel Ibe Kachikwu. The former leader will remain on the board as chairman. The board will now include President Buhari’s chief of staff Abba Kyari as well.

Around the time of the announcement, militants from the Niger Delta Avengers claimed new attacks on the already severely weakened Nigerian oil infrastructure on Tuesday.

The group aims to extract commitments from the national government guaranteeing the development of the region the NDA represents. The group says the region will seek secession from Nigeria if its demands are not met.

The Sunday after the United Kingdom voted to leave the European Union, the NDA took to social media to call for a similar referendum for the people of the Niger Delta.

The Avengers also asked President Buhari to visit the region so he could see firsthand how the communities there are faring.

‘Mr. President come and see for yourself what the host communities are going through in the hands of Nigeria government and the multinationals,” one of the group’s leaders, Brigadier General Mudoch Agbinibo, said.

Related: Consolidation In Libyan Oil – A Major Red Flag For Oil Markets?

The call for a breakup of Nigeria was not unexpected in the wake of the Brexit vote, with some analysts saying that Brexit would “encourage separatists in Nigeria.”

The Nigerian government had previously said it was willing to work out an agreement with the militants for a ceasefire, though the group denied the authorities any such opportunity in an announcement the next day.

The militant group vows only to attack foreign and state-run oil properties, while sparing the lives of civilians, regardless of national or regional origin.

By James Burgess 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