Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Fri Apr 25, 2008 7:49 am Post subject: Another Nigerian Pipeline Bombing/Operation Cyclone
We have a "Another Record" thread, why not another "Another Nigerian Pipeline Bombing" thread. It's becoming so to keep up with all the strikes, bombings, PO announcements, etc.
Quote:
Shell Confirms Latest Blast On Nigerian Oil PipelineDOW JONES NEWSWIRES
April 25, 2008 8:19 a.m.
LONDON (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) Friday confirmed Nigerian militants attacked a crude oil pipeline it operates overnight.
The assault follows a handful of others in recent weeks that have forced oil production shut-ins and helped pushed global oil prices higher.
Shell spokesman Rainer Winzenried, speaking to Dow Jones Newswires, said the Shell-led government joint venture confirmed the attack through community contacts. The installation affected is located around Kula in the eastern Niger Delta, where most of the country's crude is produced.
Joined: Sep 16, 2004 Posts: 4248 Location: Southwest WI
Posted: Fri Apr 25, 2008 8:21 am Post subject: Re: Another Nigerian Pipeline Bombing
Can you blame them for the bombings? If i was poor with no hope, what would i have to lose...
Pup55 had posted this in another thread. Very informative of the situation in Nigeria.
Quote:
CIA World Factbook
Arable land:300,000 square km, population 138 million, therefore 459 people per arable square km, which is less than Germany, but 2.5 times as many as the US.
Average life expectancy: 47 No problem with social security.
Infant mortality: 93 per 1000 births, that's almost 10% of the live births not making it. A Nigerian mother has 5.5 kids, so roughly half of the Nigerian families experience losing a child. Their population growth rate is 2.4%. 5% of the population has AIDS.
42% of the population is under 14, therefore an excellent chance for the population to double in the next 15 years, except so many of them are not making it as it is.
Although oil-soaked, 70% are considered in poverty. 50% of the population is Muslim. 70% of the labor force is employed in agriculture.
There are only about 1.5 million land telephones there, for 138 million people, and about 35 million cellphones. In the US, there are 172 million land lines, and 233 million cellphones, so more than one phone per person.
Their GDP is about $250B, a bad day at Goldman Sachs, and their exports are about $61B, probably more than that right now with 2 mbpd of $115 oil going out of that place. Plenty of narcotraffic for those not involved in the light sweet stuff.
Their internal oil consumption is 0.79 barrels per capita per year. This compares to the US which is 24.5 barrels per capita per year. So they are not seeing any industrialization or other benefits from the oil that is under their feet.
I don't blame them for being ticked off. While Paris Hilton is over here, wrecking her car, burning their oil, they are over there trying hard to keep their kids alive and survive to 47.
At any given time, there are about 1.3 million males capable of forming an army.
Excellent chance of contracting a variety of nasty diseases.
On balance, although they have enough land area to feed themselves, I would have to say that a lot of people over there are going to die. It will happen within 30 years for sure. Their petri dish is two replications away from population overshoot. This, along with the fact that the people are living in poverty while sitting on all of this oil, along with the multiple ethnic groups, along with the presence of Islam, which is the kiss of violent death wherever in the world you care to go, plus nowhere to go but up anyway, all of the factors are in place.
The argument can be made that their oilfields going into decline will make little or no difference to the average Nigerian, except to say it will tick them off even more at their government.
I have to say that if you find yourself being born as a Nigerian baby, you should probably try to get back into the womb and come out in Germany, where you have a good chance of having a long, safe, healthy life.
_________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Armed Nigerian group confirms attack on Shell pipeline , warns of more sabotage
LAGOS (Thomson Financial) - The Movement for the Emancipation of the Niger Delta (MEND), the main armed group in the south of Nigeria , confirmed on Friday it was responsible for the sabotage of a Royal Dutch Shell pipeline on Thursday, some four days after its initial attack on the oil major.
In a message to Agence France-Presse, MEND said it successfully attacked a pipeline run by Shell Petroleum Development Company on the Kula River in Rivers state on Thursday.
No official at Shell was available for comment on MEND's latest claim on Friday.
MEND advised oil companies 'not to waste their time' repairing oil pipelines, warning it will continue to sabotage them.
On Monday, MEND had already claimed responsibility for the sabotage of two Shell pipelines at Isaka River and Abonnema River, also in Rivers state, as part of 'Operation Cyclone', which is aimed at destroying Nigeria's oil export industry.
Posted: Fri Apr 25, 2008 12:56 pm Post subject: Re: Another Nigerian Pipeline Bombing
It's all happening today.
I blame the solar wind that's buffeting as we speak. Makes everyone a bit cranky _________________ http://www.myspace.com/jimolliermusic
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Sat Apr 26, 2008 8:26 am Post subject: Re: Another Nigerian Pipeline Bombing
Quote:
Mobil Nigeria Strike Enters 3rd Day; Production Still Shut
DOW JONES NEWSWIRES
April 26, 2008 7:06 a.m.
IBADAN, Nigeria (Dow Jones)--The strike by workers at Mobil Producing Nigeria Unlimited, or MPN, entered its third day Saturday with the complete shutdown of the company's oil, condensate and gas production, a senior union leader told Dow Jones Newswires.
"All production by Mobil has been shut down. We achieved zero production as of 3 p.m. local time (1400 GMT) on Friday, and there is no attempt to reopen production," George-Olumoroti Olusola, Mobil branch chairman of the Petroleum and Natural Gas Senior Staff Association of Nigeria, or Pengassan, said Saturday.
Olusola said gas production by MPN through its Bonny Gas Plant has stopped, and he said that condensate production has also ceased. "Everything is down," he said.
Pengassan workers at MPN began the strike Thursday following the breakdown of negotiations with the oil company in Abuja Wednesday over their demands for higher wages.
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Sun Apr 27, 2008 7:23 pm Post subject: Re: Another Nigerian Pipeline Bombing
Quote:
Nigeria's Oil Crisis Talks Deadlocked
By Gilbert da Costa
Abuja
27 April 2008
The strike at ExxonMobil's Nigeria affiliate entered its fourth day Sunday with the shutdown of nearly all of the company's 800,000 barrels per day output. Gilbert da Costa in Abuja reports talks to resolve the dispute have been constrained by pre-conditions set by the company and union.
The main militant group in the southern oil region sabotaged a pipeline belonging to Shell on Friday, as the strike paralyzed ExxonMobil's production in Africa's biggest producer.
The article above states Nigerian production is down 25% right now. If
Exxon mess doesn't get resolved early in the week...
High quality Nigerian oil is used here in the northeast US to make gasoline, being many refineries are highly optimized to produce as much gasoline from oil as possible - and that oil must be high quality oil.
The implications are clear: if Nigeria doesn't get its production back up soon, we in the Northeast will be trying to find alternative transportation in a few months or so.
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Mon Apr 28, 2008 10:38 am Post subject: Re: Another Nigerian Pipeline Bombing
Quote:
Nigeria Grp:Thu Attack Shut 350,000 B/D Of Shell Oil
DOW JONES NEWSWIRES
April 28, 2008 10:29 a.m.
LONDON (Dow Jones)--Nigeria's main militant group Monday said an attack it made on a Royal Dutch Shell PLC (RDSB.LN) oil facility last Thursday knocked out 350,000 barrels a day of production.
The Movement for the Emancipation of the Niger Delta, or MEND, said in a statement to the media that Nigerian Shell sources had informed it that the Nigerian government didn't want the big production loss figure disclosed.
Shell spokesman Rainer Winzenried said the Anglo-Dutch firm declined to say how much oil flow was affected by Thursday's attack.
"We aren't releasing figures today. We are looking to soon start repairs and to continue with the recovery of the spoiled oil," he said.
Shell reports first-quarter earnings Tuesday.
MEND's allegation, if true, would push total production shut in to a giant 72% of Nigeria's effective pumping capacity of 2.5 million barrels a day, according to Dow Jones Newswire estimates.
Nigeria, Africa's biggest oil producer, already has around 800,000 barrels a day closed because of an oil workers' strike that started Friday and attacks on oil infrastructure over the past two years, most by MEND, have left another roughly 540,000 barrels shuttered.
Joined: Jun 18, 2005 Posts: 3741 Location: In a van down by the river
Posted: Mon Apr 28, 2008 11:09 am Post subject: Re: Another Nigerian Pipeline Bombing
You have to figure too if they are attacking pumping control stations and the more complex oil equipment it would take a long time to repair this stuff.
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Mon Apr 28, 2008 3:37 pm Post subject: Re: Another Nigerian Pipeline Bombing
Quote:
ExxonMobil Declares Force Majeure On Nigeria Strike
DOW JONES NEWSWIRES
April 28, 2008 2:42 p.m.
LONDON (Dow Jones)--ExxonMobil Corp. (XOM) Monday took the drastic step of declaring force majeure on its energy operations in Nigeria because of an ongoing labor strike, signaling the damaging affect the dispute is having on its operations in the country.
The declaration means ExxonMobil is unable to meet its contractual obligations because of a shut-in by the strike of around 800,000 barrels a day of crude oil output.
"The (Exxon) affiliates will not speculate about the length of the shut-in nor how long it will take to restart production," an Exxon spokeswoman said.
ExxonMobil also said it was still hoping for a resolution to the strike.
"We have notified all relevant agencies including the Nigerian National Petroleum Corp. and the Department of Petroleum Resources and are working with them to ensure quick resolution of the issues," the company said in a statement sent to Dow Jones Newswires.
The state-run NNPC management is mediating in the strike, which the workers began Thursday over their demands for higher wages at ExxonMobil's Nigerian unit, Mobil Producing Nigeria Unlimited. Talks are being held Monday in the capital, Abuja.
Even if the strike ends soon it will be many days before pipelines, drilling rigs and export facilities can be brought back into full service. The labor walk-out started late last week and has helped send crude prices sharply higher.
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Mon Apr 28, 2008 10:35 pm Post subject: Re: Another Nigerian Pipeline Bombing/Operation Cyclone
MEND Proclaims "Operation Cyclone" a Success, and threatens to shut down all oil production
Quote:
Tuesday, April 29, 2008
South-South based militant group, Movement for the Emancipation of the Niger Delta (MEND), has claimed that its Operation Cyclone meant to cripple Nigerian oil exports is recording success with the shutdown of 500,000 barrels per day in the combined attacks oil installations.
The group had in a statement last week announced the commencement of Operation Cyclone, which is targeted at crippling Nigerian oil exports in protest against the continued trial of its leader, Henry Okah.
Development Company (SPDC) has informed us today that the consequences of our April 24 attack on the Kula major trunk line is the disruption of a further 350, 000 bpd, bringing the total shut-in so far to over 500,000 bpd from the combined attacks.
“Shell, we are told, received a directive from the government of Nigeria to conceal this figure to avoid panic and embarrassment. The government of Nigeria and the oil majors are in denial but the reality is that MEND will continue with this phase of its attacks until we have crippled every oil and gas production in the Niger Delta before proceeding to the next phase of Operation Cyclone.”
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Sat May 03, 2008 12:48 pm Post subject: Re: Another Nigerian Pipeline Bombing/Operation Cyclone
Quote:
Shell shuts more Nigerian oil after rebel attack
Sat May 3, 2008 11:55am EDT
By Daniel Flynn
LAGOS (Reuters) - Royal Dutch Shell shut down more of its production in Nigeria after a fresh militant attack on Saturday on a flowstation in the restive Niger Delta, where local militants have stepped up a campaign of violence.
The ruling prompted a threat of reprisals from MEND, which has already knocked 164,000 barrels a day off Shell's production in Nigeria with a pipeline bombing last month.
"A few oil delivery lines are affected and some oil has spilled into the environment," a Shell spokesman said. "We are mobilizing containment booms to stop the spread of oil and have also shut in some production volumes."
Security sources said that three wells had been blown up in the attack, as well as other equipment.
Dangerous business of drilling for liquid gold
The Telegraph Group Limited, London 2008
Published: May 03, 2008, 00:05
IT is early morning, just after the 7pm-to-6am curfew is lifted, and convoys of minibuses led and tailed by armed escorts speed oil industry workers to their offices, refineries and workshops. The threat of kidnap is everywhere. Oil pipelines and facilities are regularly attacked. For employees of Royal Dutch Shell, ExxonMobil, Chevron and a host of other companies, there is no such thing as a normal day at the office.
Welcome to Nigeria, the world's eighth-largest crude exporter - but where concerns about the worsening security situation have contributed to the recent surge in oil prices. Last week, the wife of an executive at oil services company Lonestar was reportedly kidnapped. The week before, two Shell pipelines pumping oil to an export terminal were blown up, cutting production by 169,000 barrels a day.
"It's going from very bad to very much worse. When we're not at work, we're on lockdown," said a Western contractor who lives in Port Harcourt, the main city in the troubled Nigerian Delta region, where the country's vast oil reserves are located.
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