• 1 day Iraq Begins To Rebuild Largest Refinery
  • 1 day Canadian Producers Struggle To Find Transport Oil Cargo
  • 1 day Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 1 day China's CNPC Considers Taking Over South Pars Gas Field
  • 1 day BP To Invest $200 Million In Solar
  • 2 days Tesla Opens New Showroom In NYC
  • 2 days Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 2 days Venezuela Sells Oil Refinery Stake To Cuba
  • 2 days Tesla Is “Headed For A Brick Wall”
  • 2 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 2 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 2 days Goldman Bullish On Oil Markets
  • 2 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 2 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 3 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 3 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 3 days Colombia Boosts Oil & Gas Investment
  • 3 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 3 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 3 days Aramco On The Hunt For IPO Global Coordinators
  • 3 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 4 days India Feels the Pinch As Oil Prices Rise
  • 4 days Aramco Announces $40 Billion Investment Program
  • 4 days Top Insurer Axa To Exit Oil Sands
  • 4 days API Reports Huge Crude Draw
  • 4 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 4 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 4 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 4 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 5 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 5 days Exxon To Start Reporting On Climate Change Effect
  • 5 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 5 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 5 days Forties Pipeline Could Remain Shuttered For Weeks
  • 5 days Desjardins Ends Energy Loan Moratorium
  • 5 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 6 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 6 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 8 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 8 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

Is This The Top Of The Oil Market?

Is This The Top Of The Oil Market?

A surge in gasoline inventories…

Exxon To Disclose The Real Risk Of Climate Change

Exxon To Disclose The Real Risk Of Climate Change

ExxonMobil has finally given in…

University Refuses To Be Cowed By Boko Haram Oil Attack

Boko Haram

The University of Maiduguri will continue to do research activities for potential oil exploration in the Chad Basin despite last week’s attack by Boko Haram terrorists who kidnapped an oil research team consisting of university geologists and workers contracted by the Nigerian National Petroleum Corporation (NNPC).

During a meeting with NNPC officials and officials from the oil ministry, the Vice-Chancellor of the University of Maiduguri, Prof. Ibrahim Njodi, said that the university could not “chicken out” from its duties when the NNPC returns to explore for oil in the Chad Basin, Nigerian media report.

Last Wednesday, an NNPC official said that gunmen believed to be members of the Boko Haram terrorist group had abducted on Tuesday at least 10 people who were on an oil exploration mission in the Islamist group’s stronghold state of Borno. The Nigerian oil firm had hired the team to carry out research on the oil exploration activities in the Lake Chad basin in which Nigeria resumed exploration earlier this year.

Nigeria’s government announced last Thursday that it was suspending crude oil exploration activities in the Chad Basin in Borno state following the kidnappings, according to Nigeria’s Oil Minister Emmanuel Ibe Kachikwu.

The Nigerian Army said in a press statement on Wednesday that all the NNPC staff had been rescued, but the corpses of 9 soldiers and a civilian were recovered during the rescue mission.

Related: Was Trump Right About Coal?

But on Sunday, the Army released another update in which it apologized for stating previously that all staff had been rescued. “So far the search and rescue team has recovered additional bodies of 5 soldiers, 11 Civilian JTF and 5 members of the exploration team. Contrary to reports in some media, 6 members of exploration team out of 12 that went out are still missing, while one of the NNPC staff returned to base alive,” the Army said.

According to hospital and military officials who spoke to Bloomberg, the ambush had killed at least 48 people, including 18 soldiers, 15 local vigilantes, five geologists from the University of Maiduguri, four drivers working for NNPC, and six other people.

By Tsvetana Paraskova 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