Nigerian president warns that oil developers will flee

Nigerian president warns that oil developers will flee

So be it that they leave Nigeria. The oil sharing agreement evidently is greatly flawed in that foreigners reap the greater sum of the oil wealth - whereas the owners of the oil(Nigerian people) receives mere pittance. Let them be gone and let Nigeria invest in its own drilling and PAY all the people a proper royalty on the production. Nigeria should be better compensated than the Saudis and other Arabs oil producers since the Sweet Bonnie is a higher quality and much preferred petrol. Africans need to either get real serious about upliftment or simply get out of the way and continue to assume the role of a child.

you are a fool my president

what are you talking about, yes is good to loss number one in africa because for almost 46year now you people call your self hausa is leading nigerian we nigerian can not even boss for water or roads you are talking about to loss number one in africa, the money that pass president olusegun obasanjo stoln
in goverment is what you supposed to take from him and rebuild niger delta you are here talking about to loss number one in africa, work as a mature man dont look to old fools which babangida and obasanjo face

Assault at gas pumps related to attacks on Nigerian pipelines...
:mad:
Nigerian pipeline attacks affect gas cost
Nigeria accounts for one of every 10 barrels of oil that arrives in the United States; Exxon and Shell are extracting 2 million barrels of oil a day in Nigeria; The disruptions in Nigeria began around the beginning of 2006

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Violence in oil-rich southern Nigeria is having a ripple effect thousands of miles away — at gas stations in the United States. One reason for record high gas prices, analysts say, is a spate of attacks on oil pipelines in Nigeria, the fourth largest supplier of oil to the United States. The attacks are relatively small, but the fallout is substantial.

The average price of a gallon of gas in the United States climbed to $3.831 on Thursday — the 16th consecutive day of a price increase and the 15th consecutive record high, according to AAA. While analysts cite various factors in various countries for the increases, the price could keep going up with more attacks on pipelines in Nigeria, which accounts for one of every 10 barrels of oil that arrives in the United States.

“Anytime a pipeline is affected, anytime any production gets shut down, you see oil prices jump up one or two dollars a barrel just because there is no slack in the system," said Jim LeCamp, a senior vice president with RBC Wealth Management, which manages assets for wealthy clients worldwide. Exxon and Shell are two of several companies that had been extracting 2 million barrels of oil a day in Nigeria. Yet a rebel group’s attacks on oil pipelines in the Niger Delta have cut overall production by roughly 10 percent — meaning 200,000 fewer barrels of oil on some days.

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