The slippery business of Nigeria's oil

[dArKeR]

Oil is the undisputed kingpin of Nigeria’s economy, contributing more than 90% of its export earnings. But more than four decades after the start of oil extraction in Nigeria, the industry remains in foreign hands -- much to the frustration of local entrepreneurs.

At present, the Anglo-Dutch oil company, Shell, dominates oil production in Nigeria, generating a substantial portion of the 2,3-million barrels of crude that are exported daily. Official figures put local participation in the industry at about 5%.

Although Nigerian companies that provide services to the oil sector exist, their owners say oil multinationals still shop for these services abroad.

“Most of the oil companies would rather patronise foreign oil-drilling multinational companies in spite of our impressive credentials,” observes Humphrey Idisi, chief executive of the Lonestar Group, a local oil drilling services firm.

http://www.mg.co.za/Content/l3.asp?ao=33634

[kalian]

1. What's this....?

Locals wanting to control their own resources? Pfffttt! Must be some
sort of godless terrorist commie or something. (sarcasm off)

I just finished reading a book called "Resource Wars, the New
Landscape of Global Conflict" by Michael Klare. At the end of his book
Michael deals extensively with the Dark Continent and its unfortunate
future. Western corporations, particularly US (surprise!), are ready
to exploit this region like a pack of hungry wolves.

Just remember that the US has already issued statements claiming that
"Al-Qaida" is "deep inside" Africe... :eyes: And that US troops were
being deployed to work with the local governments...


Its all about peak oil....

[The Zanti Regent]

2. well, do the neo-CONS want to steal that oil, too?

Hmm, we Steal Iraq's oil and prices go through the roof.

Otto Third Reich and his thugs are in the process of overthrowing Chavez so we can steal Venezuela's oil, and I got a feeling that the Likudnik Fifth Columnist neo CONS are now gonna fabricate stories about Bin Laden's pals hiding in Nigeria.