• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Could Someone Give Me Insights on the Future of Renewable Energy?
  • 3 hours How Far Have We Really Gotten With Alternative Energy
  • 1 day "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 hours e-truck insanity
  • 3 days Bankruptcy in the Industry
  • 15 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days The United States produced more crude oil than any nation, at any time.
Geopolitical Tensions Fail to Spark Oil Price Surge

Geopolitical Tensions Fail to Spark Oil Price Surge

The fluctuating prices in response…

LME's Russian Metal Ban Reshapes Global Trade Dynamics

LME's Russian Metal Ban Reshapes Global Trade Dynamics

The London Metal Exchange's ban…

Violence In Nigeria’s Oil-Rich Delta Returns: Six Soldiers Killed

Just when it looked like that Nigerian militants and government had suspended confrontation and attacks to give peace in the restive oil-rich Niger Delta a chance, at least six Nigerian soldiers were killed in a fresh Army campaign against militants in the Delta, according to security officials.

Army and security forces launched on Sunday a new campaign to try to hunt down militants held responsible for oil thefts in the Ajakpa community in Ondo state, west of the Niger Delta.

On Monday, the Nigerian Army said in a statement that troops in a special operations mission in Ajakpa community repelled an attack on the troops. The attack was led by gang leader Ossy Ibori who was killed in a gun fight along with some members of his gang, the Army said.

Today, military officials told a news conference that at least six soldiers were killed, as was the leader of the gang, Reuters reports, adding that the operation is still ongoing.

The Ijaw Youth Council, which represents the largest ethnic group in the area, blamed the army for harming civilians.

The military, for its part, dismissed the allegations, saying that they are propaganda.

Just earlier this week, Nigeria’s Ministry of Petroleum Resources said that with a new funding arrangement for the joint ventures with international oil majors, Nigeria expects its crude oil production to rise to 2.5 million bpd by 2019, from 2.2 million bpd capacity now.

Related: 16th Straight Build In Oil Rig Count Increases Pressure On Oil Prices

Nigeria’s current production is not exceeding 2 million bpd, and currently sits at around 1.9 million bpd, including 350,000 bpd in condensates, S&P Global Platts has estimated. OPEC’s secondary sources pegged Nigeria’s crude oil production at 1.545 million bpd in March, down from 1.575 million bpd in February.

Nigeria plans to increase its crude oil output by the summer, after repair work on the still shut-in Forcados is completed and maintenance at the Bonga field has ended.

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News