The FPSO Bonga (Floating, Production, Storage and Offloading) off the coast of Nigeria, south of Lagos. Britain is to help Nigeria crack down on violence which has disrupted oil supplies in the troubled Niger Delta through a security training force. From the Telegraph:
Attacks on an oil pipeline cost Nigeria another 50,000 barrels a day of production, threatening a further rise in global crude prices.
The explosion, which damaged a pipe owned by a subsidiary of Eni, an Italian firm, came a day after militants in speedboats attacked a Nigerian navy vessel, killing five people.
Violence in the Niger Delta, where most of Nigeria's 36 billion barrels of proven oil reserves are found, has cut the country's daily crude output – which should total 2.5 million barrels – by at least 25 per cent.
Read more ....
More News On Nigeria's Internal Conflicts
Nigeria: Pre-dawn explosion damages oil pipeline -- Yahoo News/AP
Nigerian villagers blow up key Agip pipeline: industry sources -- AFP
Nigerian Armed Group Denies Targeting Navy Vessel -- Voice Of America
Nigeria's Delta blues -- Guardian
Nigerian oil workers union threatens to pull members out of Delta -- AFP
Nigerian activists reject UK plan -- BBC
My Comment: Nigeria has 36 billion barrels of proven reserves. At a price of $135 per barrel, we are talking 4.5 to 5 trillion dollars. I repeat ..... 4.5 to 5 trillion dollars.
It is no surprise that everyone is fighting for a share of the pie.
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