Quantcast
 
Read Larry Connors' blogShort Term Trading Strategies


 

Gunmen raid ExxonMobil oil platform off Nigeria

Wed. January 07, 2009; Posted: 05:43 AM
Stocks RSS
CALABAR, Nigeria, Jan 07, 2009 (Reuters via COMTEX) -- XOM | Quote | Chart | News | PowerRating -- Armed men attacked an oil platform belonging to U.S. energy giant ExxonMobil off Nigeria early on Wednesday, the latest sign that criminal gangs are extending their reach in Africa's top oil industry.

Gunmen in a flat-bottomed vessel raided the facility, which lies some two hours by boat off the coast of the southern Nigerian state of Akwa Ibom, shortly after midnight. They also attacked a nearby barge and an oil services vessel.

"They shot into the air and water and ordered everyone on the platform into one room and threatened to kill us," a witness told Reuters, adding the raid had lasted two hours.

A private security contractor said the gunmen had stolen phones, valuables and money. They were initially thought to have taken three hostages, but all the occupants of the three locations had since been accounted for, the contractor said.

He said there was no impact on production.

Mobil officials confirmed the incident but gave no details.

Insecurity in Nigeria's Niger Delta has focused on the three main oil-producing states of Rivers, Delta and Bayelsa, but kidnappings and robberies appear to be on the increase in Akwa Ibom, further east towards Cameroon.

It is the second time in just over a month that Exxon's local unit Mobil Producing Nigeria (MPN) has been targeted.

Gunmen attacked an MPN convoy in early December in Akwa Ibom as it travelled towards the Qua Iboe oil terminal, killing one soldier in what appeared to have been a failed kidnap attempt.

Militants who say they are fighting for a fairer share of the oil wealth in the Niger Delta launched a campaign of sabotage and kidnappings three years ago which have cut Nigeria's oil production by around a fifth.

Criminal gangs have taken advantage of the unrest, seizing prominent Nigerians and expatriate workers for ransom in the creeks of the delta, or hijacking vessels at sea.

Offshore oil facilities have generally been considered beyond the reach of all but the most organised militant gangs and therefore relatively secure, but attacks in deep water appear to be on the increase.

A vessel belonging to French oil services firm Bourbon was hijacked with nine crew members on Sunday but all have been released unharmed, the company said on Wednesday.

Two Russians working for aluminium giant RUSAL were seized from their housing compound in the port town of Ikot Abasi in Akwa Ibom more than two weeks ago. They are still being held.

That attack came hours after two oil services vessels were attacked near crude oil facilities off Akwa Ibom operated by Canada's Addax Petroleum. A Filipino captain on one of the vessels was killed, one security source said.

(For full Reuters Africa coverage and to have your say on the top issues, visit: http://africa.reuters.com/ )

(Additional reporting and writing by Nick Tattersall; Editing by Janet Lawrence) Keywords: NIGERIA DELTA/

(Reuters messaging: nicholas.tattersall.reuters.com@reuters.net, Lagos Newsroom +234 1 463 0257)

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

MMMM

For full details on Exxon Mobil Corporation (XOM) click here. Exxon Mobil Corporation (XOM) has Short Term PowerRatings of 5. Details on Exxon Mobil Corporation (XOM) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [XOM]
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.