French oil giant reconsiders operation in Nigeria
www.chinaview.cn 2008-06-06 01:11:26   Print

    LAGOS, June 6 (Xinhua) -- French oil giant Total is reconsidering its operation in Nigeria following the continuous attacks on facilities and kidnapping of workers of oil companies in the country by militants in the Niger Delta region, according to the Lagos based The Nation newspaper on Friday.

    Christophe de Margerie, the Chief Executive Officer (CEO) of Total Group, told a French parliamentary committee on Thursday that the company was assessing its presence in Nigeria because of unrest in the Niger Delta region.

    He noted that should the company pull out, it would worsen the already high oil price which has gone above 135 U.S. dollars per barrel.

    "We have people who work over there, who are unfortunately more and more often subjected to major aggressions or kidnapped. We are asking ourselves the question about staying.

    "I can tell you clearly that if Total or any other oil company decides to leave Nigeria for security reasons, it is not 130 U.S. dollars, it is unknown that you'll have," he said, saying that higher price will be in the future.

    There has been indiscriminate kidnapping of oil companies' workers in the Niger Delta by militants, a development that has led to shut-in of many oil facilities resulting in loss of about one quarter of Nigeria's output.

    According to the report, Nigeria has lost its position as Africa's leading oil producer to Angola. Figures issued by the Organization of Petroleum Exporting Countries (OPEC) showed that Nigeria, previously the biggest oil producer in Africa, was surpassed by Angola in April.

Editor: Yan Liang
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