UPI Related News
Nigerian energy officials acknowledged that despite generating hundreds of billions of dollars in wealth, the country's oil industry has done little to enhance the lives of the Nigerian people.
Nigeria's leading militant group is threatening to launch a wide-scale offensive off the coast of the oil-rich Niger Delta against oil platforms, a move that would escalate the already intensified attacks against foreign petroleum installations in the region.
Once again, militant violence in the Niger Delta has prompted the region's largest foreign oil company to concede it cannot meet output expectations.
The state-run Nigerian National Petroleum Corp. admitted to paying armed militant groups $12 million in protection money.
China has committed $1 billion to the creation of a six-lane highway surrounding Nigeria's de facto oil capital, Port Harcourt, the latest indicator of Beijing's intent to become a leader in African oil extraction.
Nigerian President Umaru Yar'Adua is visiting energy-hungry China this week to talk ways of broadening their already extensive oil and gas ties.
A leading Nigerian rights group has praised President Umaru Yar’Adua for his efforts to tackle corruption and violence in the oil-rich, albeit chronically impoverished, Niger Delta.