By Dave Anderson:
Economic system disruption is back in Nigeria, even though there were claims that the Nigerian MEND insurgency had folded after it reached a quasi-negoatiated settlement with the government during the fall of 2009. That was after a large scale set of government sweeps, and several prominent sabotage incidents that significantly pressured the government's urban credibility and cash flow.
U.S. energy firm Chevron (CVX.N) said on Monday it had suspended production from an oil pipeline in Nigeria's Delta state, which was breached on Friday. Chevron said it was investigating the damage to the Dibi-Abiteye pipeline, which feeds the Escravos oil stream, but did not comment on how much production would be lost.
Escravos crude exports were due to be around 123,000 barrels per day in December, according to loading programmes. It was not clear how much this would be reduced by the pipeline damage.
A Newfoundland oil worker who was held hostage for an often terrifying 10 days in Nigeria says he�ll celebrate a sweet Christmas at home.
Bob Croke, 51, has been back in Torbay near St. John�s for just over a week.
The married father of three grown sons sat in his living room Wednesday, its ceiling festooned with �Welcome Home� helium balloons and its walls hung with carved African masks and other souvenirs of his world travels.
He is still hobbling from a gunshot wound to his left foot and sat with it gingerly raised on a coffee table...
Exxon Mobil Corp. said it resumed output from the Oso field in Nigeria more than a month after its gas and condensate platform there was attacked by militants.
�We have restarted 15,000 barrels per day of condensate from the Oso field,� spokesman Ozemoya Okordion said in an e- mailed response to questions today. �No firm time for restart of natural gas liquids production is available at this time.�
Production of about 45,000 barrels of oil equivalent a day was shut at the platform as a �precaution� after eight workers were kidnapped in the attack, Exxon Mobil said on Nov. 16. The Movement for the Emancipation of the Niger Delta, the main armed group in the region, claimed responsibility for the attack.
Kidnapping of oil workers, especially foreign technical experts is one of the major Achilles heels of Nigerian oil production. Combine that with pipeline sabotage, and a global economy that is again eating up the cheap marginal oil production leads to the resurrection of a shadow OPEC that can have significant price impacts as non-state armed groups are able to take out of production the global buffer between supply and demand.
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