Attacks push oil sector into crisis

摘要

Armed group the Niger Delta Avengers (NDA) has emerged as a direct threat to Nigeria’s oil output, oil and gas investment, and badly needed state revenues. Nigeria’s leading crude export grades Bonny Light and Forcados, which Shell produces in a joint venture with state-owned oil firm NNPC, are under force majeure after damage to key pipelines. The Nigerian military on 11 May accused the NDA of engaging in “economic terrorism” and vowed to confront the group. Lost Forcados production has amounted to 300,000 b/d since February, when the shut-in started after a pipeline attack, NNPC estimates The NDA has claimed responsibility for the attack.