Thursday, May 13, 2010

Insecurity cuts Nigerian oil output by 1 mln bpd

ABUJA (Reuters) - Nigeria's oil production has declined by 1 million barrels per day since May 2009 because of insecurity in the Niger Delta, a senior government official said on Thursday.
Timi Alaibe, presidency adviser on Niger Delta affairs, said the Nigerian government loses about 8.7 billion naira per day in oil revenues due to violence against Africa's biggest energy sector.

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