Nigerian media reports halt to some crude oil production

28 Jul 2017   Nigeria

Nigerian media reported Thursday the federal government opted to halt crude oil exploration in part of the Niger Delta because of heightened security concerns. Militants struck a crude oil pipeline in Nigeria early this week , sidelining more than 100,000 barrels of oil per day. On Wednesday, militants abducted dozens of oil contractors working for the Nigerian National Petroleum Corp., though security forces were said to have conducted a successful rescue mission. Nigerian news service This Day reports nine soldiers and one civilian were killed during the operation. Nigeria is a member of the Organization of Petroleum Exporting Countries, but is exempt from a multilateral agreement to stem production because it needs oil revenue to fund national security efforts. Improvements late […]

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