Total Poised to Start Exports From Big New Oil Field in Nigeria

By Sherry Su (Bloomberg) -- Total SA is poised to start exports of crude from a major new offshore field in Nigeria, adding to global supplies at a time when oil prices are plunging. Shipments of Egina crude from a floating offshore production vessel have been scheduled for February, according to a copy of a loading program for the new grade seen by Bloomberg. Initial … [Read more...]

Nigeria Heads to Deep Water in Search of Future for Oil Producers

By Elisha Bala-Gbogbo (Bloomberg) -- When it comes to the future of its oil industry, Nigeria is looking miles out to sea. By early next year, the largest offshore production vessel ever delivered to Nigeria will start pumping crude from a deposit deep beneath the seabed, boosting the West African country’s oil output by about 10 percent. The project, viewed as the … [Read more...]

Nigerian Pirates Kidnap 12 From Swiss Bulker

by Michael Shields (Reuters) - Pirates kidnapped 12 crew members from a Swiss merchant vessel on Saturday in Nigerian waters, the ship’s operator said in a statement. Kidnapping for ransom is a common problem in parts of Nigeria. A number of foreigners have been kidnapped in the last few years in the southern Niger Delta region, source of most of the crude oil which is … [Read more...]

30,000 Tons Of Cocoa Stuck On Lagos Port Roads

At least 30,000 metric tons of cocoa are trapped on their way to ports in Nigeria’s main city of Lagos as roads in a state of disrepair delay access to ships, the cocoa exporters body said. Travel to the Apapa and Tin Can Island ports that previously took hours, now takes as much as four weeks as trucks struggle through cratered and water-logged roads to get there, Pius … [Read more...]

Shell Says Nigeria Attacks Persist Even as Oil Output Recovers

By Elisha Bala-Gbogbo (Bloomberg) -- Nigeria’s oil wells may be flowing again, but the country’s largest operator says attacks continue to put a brake on output. “Security in parts of the Niger delta remains a major concern with persisting incidents of criminality, kidnapping and vandalism as well as onshore and offshore piracy,” said Igo Weli, general manager for external … [Read more...]