Nigeria Oil Thieves Strike Again

Bloomberg reported that oil thieves that attacked Nigeria’s oil companies have returned and sabotaged pipelines, causing oil companies such as Royal Dutch Shell Plc to declare force majeures and robbing them of at least a tenth of their daily production.

As quoted in the market news:

The situation in the last few weeks is unprecedented,” Shell Nigeria’s Managing Director Mutiu Sunmonu said yesterday in an e-mailed statement. “The volume being stolen is the highest in the last three years; over 60,000 barrels per day from Shell alone.

Click here to read the full Bloomberg report.