• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 14 hours Could Venezuela become a net oil importer?
  • 6 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 17 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 14 hours Gazprom Exports to EU Hit Record
  • 15 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 14 hours Could oil demand collapse rapidly? Yup, sure could.
  • 50 mins Oil prices going Up? NO!
  • 14 hours Oil Buyers Club
  • 17 hours Why is permian oil "locked in" when refineries abound?
  • 7 hours Oil prices going down
  • 17 hours EVs Could Help Coal Demand
  • 23 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 23 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 5 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 11 mins Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 12 hours Saudi Arabia turns to solar
Azerbaijan’s Pipeline Conundrum

Azerbaijan’s Pipeline Conundrum

Azerbaijan’s European pipeline project is…

Permian Bottlenecks Begin To Bite

Permian Bottlenecks Begin To Bite

The pipeline bottlenecks in the…

Oil Tanker Strike Threatens Nigeria’s Oil Industry

Oil Truck

Low wages and subpar roads led Nigerian oil truck drivers to protest in the capital on Monday, according to a new report by Reuters, which could lead to indefinite supply chain disruptions for the nation’s oil and gas industry, already under pressure after almost a year of attacks in the industry by the separatist group Niger Delta Avengers.

"It is nationwide and compliance is total - all tanker drivers across the nation are involved," Cogent Ojobo, who chairs Nigeria Union of Petroleum and Natural Gas (NUPENG) for the region, said. He added that the union had met with the Nigerian government on Monday and that discussions were ongoing.

"At the end of the meeting today if talks fail then other members of NUPENG, like filling stations, will join and that is bound to increase the pump prices of fuel and other petroleum products," he said.

The Nigerian Labor Ministry had representation at the meetings, according to a government spokesperson, but the discussions had been coordinated by the oil ministry, which was unavailable for comment to Reuters.

In addition to strikes and attacks, oil thefts and pipeline closures have affected Lagos’ energy revenues intermittently over the past year.

Shell’s Nigerian unit shut down one of two lines that carry Bonny Light crude to the export terminal in order to remove oil theft points and repair leaks, Reuters reported on Friday, quoting Shell Petroleum Development Company (SPDC).

Related: The First Sign Of Tighter Oil Markets Is Finally Here

The same subsidiary said in early March that it had shut down for the Bonga field maintenance, which has the capacity to produce some 225,000 barrels of crude daily, until April. The company provided no further details, but Nigerian media estimated the daily loss in revenue at $10.95 million.

By Zainab Calcuttawala for 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