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News on Nigeria.

Terminal operator ICTSI withdraws from delayed Nigeria project

Terminal operator ICTSI will, with a mutual agreement, withdraw from a more than 20-year long concession arrangement in Lekki Port in Nigeria, abandoning the project entirely. The terminal project is located in the same region in Nigeria where APM Terminals is similarly struggling with a terminal venture.

Goldman Sachs skeptical toward OPEC oil freeze

It would be a bad step for OPEC if the organization of oil producing countries decides to freeze the oil production at its current high levels. A freeze could also possibly lead US producers to increase supply.

Pacific Drilling hit by Nigerian currency plunge

Drilling company Pacific Drilling took an exchange rate hit of USD 2.9 million in the second quarter, which nevertheless ended positive due to a one-off income. A continued focus on costs also impacted the result.

Nigerian rebels reduce available work for tanker carriers

The West African spot market for tanker has declined by four percent in the second quarter. In particular, this is attributable to attacks by Niger Delta Avengers on the country's oil infrastructure, writes Alphatankers in its most recent newsletter.

Nigerian rebel group aims to stop oil attacks

Rebel group MEND encourages another armed group, Niger Delta Avengers, to put its weapons down and participate in peace talks with the government. Attacks on oil facilities do not solve the problems with corruption and pollution, says a spokesperson.

Pirate attacks in Nigeria could spread to port terminals

While the Nigerian economy suffers from the decline in the oil price, the newly founded rebel group, Niger Delta Avengers, which has carried out several attacks on oil infrastructure in Nigeria, has also pulled piracy closer to terminals along the country's coastline, notes Risk Intelligence.

Nigerian unrest could spell bad news for tankers

Nigerian oil production is being disrupted by attacks on the country's pipelines and terminal, carried out by rebel groups in the Niger Delta. This can spell bad news for tanker carriers, says shipbroker.

Monjasa tanker convicted in Nigeria oil case

A tanker vessel from Danish bunker company Monjasa, two involved companies and 14 crew members have been convicted for illegal bunker trading in Nigeria, report several African media.

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