Nigerian Oil Assets under Fresh Threat of Attack by Militants

SEATTLE (Oil Monster): Nigerian militants threatened to carry out fresh attacks at country’s oil assets. A similar series of militant attacks had pushed the country into long recession in 2016. Market participants fear that any attack on oilfields may drag the country, which already is plagued with large number of separatists’ issues, into another era of darkness.

 The attacks on oil and gas facilities in the Niger Delta region had lowered the Nigerian oil production in August 2016 to near 30-year lows. Later during the month, the militants had agreed to a ceasefire. Following this, the country has been steadily increasing its oil production and exports, which has helped in revamping the country’s dislodged economy.

The militant outfit- The Niger Delta Avengers, in a statement posted in its official website said that the planned round of attacks will be the deadliest ever and that they intend to target deep sea operations carried out by multinational companies. The primary targets would be the Bonga Platform and the Agbami, EA and Akpo fields. The operations of local firm Brittania-U also comes under the list of targets.

The militant group had been demanding a greater share of the oil revenue towards upliftment of the poor in southern region of the country. According to them, the year-long talks with Nigerian government have failed to produce any meaningful result. Consequently, they have decided to call of the talks, The Niger Delta Avengers press release stated.

The Bonga and EA fields are operated by Shell, whereas Chevron is the operator of Agbami oil field. A confederation of Total, Chinese CNOOZ, Brazilian Petroba and the local Sapetro operates the Akpo fields.

Meantime, Shell and Chevron declined to comment on the development. Other companies too are yet to respond to the militant’s threat.