Tags: West Africa | Nigeria | oil | tankers | piracy | pirates

LIGNET: West Africa Chases Oil Riches as Piracy Rises, Prices Drop

West African states have not abandoned dreams of oil riches despite a sharp rise in piracy involving oil tankers and changes in the global energy market due to major increases in North American oil and gas production. While Royal Dutch Shell, ConocoPhillips and Brazilian oil giant Petrobras have backed out of the troubled Nigeria oil sector, China has eagerly replaced them. Can it do better?
 

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West African states have not abandoneddreams of oil riches despite a sharp rise in piracy involving oil tankers and changes inthe global energy market due to major increases in North American oil and gasproduction. While Royal Dutch Shell, ConocoPhillips and Brazilian oil...
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