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Sabotage of oil pipelines may force Osinbajo back to N’Delta for fresh talks

6 hours ago

Sabotage of oil pipelines may force Osinbajo back to N'Delta for fresh talks


Apparently jolted by Monday attack on oil facilities by men believed to militants in the Niger Delta, the Presidency has concluded plans that will see the Acting President, Yemi Osinbajo, undertake another peace move to the oil-rch region.
The pipeline attack, which forced Shell Petroleum to shut down its major oil facilities in Ogoni Land may need a visit of the office of the President to douse the new tension, said an official.
It is speculated that Nigeria may lose an estimated 200,000 barrels per day as a result of the sabotage.
The attack came on the heels of warnings by Niger Delta chieftain, Chief Edwin Clark, that youths from the area had become restive after waiting 6 months without appreciable redemption of promises made soon after after Osinbajo’s tour of the communities.
The eruption of fresh hostility in the Niger Delta might see Nigeria suffering a shortfall from the exemption it is enjoying from OPEC oil output cut till March 2018.
Reports say Nigeria’s oil exports were set to exceed 2 million barrels per day (bpd) in August, the highest in 17 months, which was a little over one million bpd, in greater part of 2016.
A reliable Presidency source confirmed that the second visit by the Osinbajo, billed to hold first week of August would seek to assuage frayed nerves.

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