Militancy takes toll on Nigerian oil

Resurgent militancy has cost Nigeria more than 130 million bbl of crude oil since January, according to an official of the Lagos Chamber of Commerce and Industry as reported in the Nigerian press.

Speaking at a conference in Lagos, Shina Bankole, vice-chairman of the Security Subcommittee of the Oil Producers Trade Section, said 58 incidents of sabotage hit facilities owned by oil and gas companies during the period, forcing curtailment of production.

At least 32 militant groups have emerged in the oil-producing Niger Delta since attacks resumed in 2015 after several years of relative calm, Bankole said (OGJ Online, May 13, 2016).

He reported more than 275 kidnappings in 29 Nigerian states during January-November, 45 related to oil and gas industry personnel.

 

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