Industrial action and attacks from militants have forced the two biggest oil companies in Nigeria to cut their production.
Exxon Mobil and Royal Dutch Shell are both reducing output, which is helping to keep oil prices near record highs. Militant groups sabotaged a major crude oil pipeline located at Kula river and operated by Shell Petroleum Development Company. It is the fourth such attack in the last seven days. In addition, workers at an Exxon Mobil plant have started a strike over pay and working conditions. The company said production was affected, but would not say by how much. ExxonMobil is one of the largest producers in Nigeria, which is Africa's largest oil exporter. Nigeria currently produces about 2 million barrels-per-day in crude.
(Deutsche Prosecutors quiz Samsung boss ...
Shell sets new UK profits record ... Welle)
more info >>
<< Back