Energy Prospectus

MAY 22

Nigeria has seen oil production cut to 1.4 million barrels per day, well down on the budgeted 2.2 million bpd, because of attacks claimed by the Niger Delta Avengers group.

On Friday, Buhari ordered enhanced security in the swamps and creeks of the delta region, after pipelines and facilities operated by oil majors including Shell, Chevron and Agip were targeted.

Buhari said the situation “threatens the national economy”, already reeling from the slump in global crude prices that has slashed government revenue, and plagued by endemic corruption.

SEE: http://guardian.ng/news/former-rebels-c ... il-unrest/

YENAGOA, Nigeria (Reuters) - A crude oil pipeline in Nigeria's southern state of Bayelsa operated by the local subsidiary of Italy's Eni was attacked on Sunday, May 22 the Nigeria Security and Civil Defence Corps (NSDC) said. Desmond Agu, a spokesman for the government agency, said the Agip pipeline was attacked with dynamite in the early hours of Sunday. Eni, which operates in Nigeria through its subsidiary Nigerian Agip Oil Company, could not be immediately reached to comment on the attack.