• 8 minutes U.S. Shale Oil Debt: Deep the Denial
  • 13 minutes WTI @ $75.75, headed for $64 - 67
  • 16 minutes Trump vs. MbS
  • 32 mins Despite pressure about Khashoggi's Murder: Saudi Arabia Reassures On Oil Supply, Says Will Meet Demand
  • 2 hours Dyson Will Build Its Electric Cars in Singapore
  • 2 hours China Opens Longest Mega-Bridge Linking Hong Kong to Mainland
  • 14 hours Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 29 mins Why I Think Natural Gas is the Logical Future of Energy
  • 5 hours Satellite Moons to Replace Streetlamps?!
  • 4 hours Can “Renewables” Dent the World’s need for Electricity?
  • 34 mins How Long Until We Have Working Nuclear Fusion Reactor?
  • 58 mins These are the world’s most competitive economies: US No. 1
  • 2 hours The Balkans Are Coming Apart at the Seams Again
  • 16 hours EU to Splash Billions on Battery Factories
  • 14 hours Get on Those Bicycles to Save the World
  • 10 hours Merkel Aims To Ward Off Diesel Car Ban In Germany
Hedge Funds Continue To Reduce Bullish Bets On Oil

Hedge Funds Continue To Reduce Bullish Bets On Oil

Money managers and hedge funds…

Oil Majors Win Big In New NAFTA Deal

Oil Majors Win Big In New NAFTA Deal

The recent renegotiation of NAFTA…

Pirates Commandeer Another Oil Tanker Near the Niger Delta

The Niger Delta is the heart of Africa’s oil industry, yet the Gulf of Guinea, the area in which the delta is situated, is a hot spot for piracy. Only in the waters off Somalia are pirate attacks more common.

Pirates generally target ships in order to steal the goods being transported, and oil trade in the region is being affected as pirate activity grows.

On Monday the French shipping company Bourbon, which supplies vessels to the offshore oil industry in the Niger Delta, announced that one of its ships had been taken by pirates and that seven people kidnapped; six Russians and an Estonian. Luckily the other nine crew members had managed to make their way to the safety of the Nigerian port of Onne.

Related Article: Piracy: Skulls, Cross-Bones and Letterhead

Back in August pirates attacked a Greek oil tanker off the coast of Togo. They released the tanker and crew of 20 just a few days later, having unloaded 3,000 tonnes of fuel.

Then just earlier this month pirates released another gasoline tanker that they had commandeered near to the Ivory Coast.

Most of the gangs operating around the Niger Delta have formed from the remains of the militant groups that plagued the area until an amnesty was agreed in 2009.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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