New Page 1
New Page 1
Home About News Download Media Images Feedback Visuals OilTheft Map
New Page 1


 
latest news ...
 
24 Oct 2017 Shell caught in fresh controversy in Nigeria
24 Oct 2017 Six Crew From German Ship Kidnapped in Nigerian Waters
24 Oct 2017 Troops Arrest Kidnappers, Oil Bunkerers, Destroy Illegal Refineries in Akwa Ibom, Bayelsa, Rivers
23 Oct 2017 Operation crocodile smile curbs criminal activities
More News...
 
 
 
 
 
 
 

 

New Page 1
 
 
 
'Niger Delta Impasse Threatens Foreign Investment'
21 Aug 2006
Author:
Country: Nigeria

A Liquefied Petroleum Gas firm, Global Energy and Refinery said it has lost a sum of S2.2milliom to the increasing wave of violence in the Niger Delta, saying the crises in the region is a threat to foreign investment in Nigeria.

The Vice President of the company, Dominic GBenoba who disclosed this recently, explained that the loss arose from the attacks on Shell Petroleum Development Company gas facilities which supply associated gas from its fields to Global Energy Refinery's vessel stationed at Bonny, Rivers state.

G,Benoba said the development is unfortunate, adding that it is a great threat to the efforts of the federal government at mobilising foreign direct investment in Nigeria.

He however admonished the Federal government to set in motion, moves to ensure early resolution of the internecine crises in the oil rich region.

Business Trust gathered that more than 65 foreign oil workers have been kidnapped since January this year.

Besides, the nation has lost over S11billion of crude oil while the cost of repairing damaged facilities is still hanging on the neck of the country like an albatross.

Daily Trust

Copyright: 2006 Daily Trust

 

New Page 1
Home | About | News | Feedback | Library  
   Copyright 2017 Legal Oil is a Project of CLEEN Foundation Follow us          Facebook         Twitter         BlackBerry PIN        LinkedIn Email: info@legaloil.com