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Weekly Market Recap
Just want to highlight some interesting stories I came across this week for you:
Violence and bombings aimed at destroying Nigerian Oil output will begin again:
MEND will start “a sweeping assault starting from Rivers state that will change the face of oil and gas exports from Nigeria,” the group’s spokesman, Jomo Gbomo, said in an e-mailed statement.
Attacks by MEND and other armed groups on Nigeria’s oil industry have cut the west African nation’s exports by more than 20 percent since 2006. Nigeria is Africa’s leading oil producer and the fifth-biggest source of U.S. oil imports.
A good story that highlights the fact how much some costs associated with Oil production and transportation have dropped recently is here.
Posted by Mike – January 31, 2009 – 15:39