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40 comments on Missing Barrels

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seanarama on February 24, 2006 - 10:05am

And don't forget Nigeria. That problem doesn't seem to be going away.

Crude is up $1.86 as I write this. It's going to be a volatile day in the futures market, for sure. Oil, and gold as well.

Sean

Oil Rises on Concern Attacks May Further Cut Nigeria Production
Feb. 24 (Bloomberg) -- Crude oil rose after rebels who knocked out a fifth of Nigeria's oil production threatened further attacks against Africa's largest producer.

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Leanan on February 24, 2006 - 10:59am

Shell told to pay Niger Delta's Ijaw people $1.5B in compensation

A Nigerian court has ordered oil multinational Royal Dutch Shell PLC to pay $1.5 billion to the Ijaw people of the Niger Delta region, the BBC reports on its Web site Friday.
The Ijaw have been fighting since 2000 for compensation for environmental degradation in the oil-rich region. They took the case to court after Shell refused to make the payment ordered by Nigeria's parliament.
Ijaw militants have staged a spate of attacks against Shell facilities recently and are holding foreign oil workers hostage.
Shell intends to appeal against the judgment.

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