Nigeria: Oil-Export Reliability At Risk

Experts in the oil industry have warned that Nigeria stands the risk of losing its credibility as a reliable supplier of crude oil on the world market.

According to them, exports that have been held back because of rebel attacks would seriously affect Nigeria’s credibility in the oil industry.


The Wall Street Journal reports that, anxiety over the latest Nigerian disruptions helped to push oil futures above $90 a barrel on Friday.

Nigeria is Africa’s biggest oil exporter, and its crude, easy to make into gasoline, is highly prized by refiners. But oil companies have had to endure attacks on installations and kidnappings of staff.

The government “appears to have done little in the last few months to curb the violence in the country’s oil-producing region,” said Thomas Pearmain, a London-based energy analyst at consultancy Global Insight.

Ghanaian Chronicle