Nigeria: N'Delta Militants Strike Chevron Again As Nigeria Risks Losing Oil Market to Iran

9 June 2016

Following the incessant production outages and force majeure declared on exports of some grades of Nigerian crude oil, which have created supply uncertainty to the major buyers of Nigeria's crude oil, mostly foreign refineries, the refineries from India to the United States are backing away from buying Nigerian oil and turning to Iran and other Middle East countries for sustainable crude oil supply.

The uncertainty about deliveries of Nigerian crude to the foreign buyers due to supply disruptions has heightened in recent months as the country squares up to the new militant group in the Niger Delta, the Niger Delta Avengers (NDA), which wednesday claimed it had struck Chevron-operated RMP 20 Well at Didi community in Egbema, Warri North Local Government area of Delta State.

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