Oil Companies pulling out of Nigeria? Any major helicopter operator want to chance getting paid in this situation?
From today's <money.cnn.com>
LONDON -(Dow Jones)- ExxonMobil Corp. (XOM) Monday took the drastic step of declaring force majeure on its energy operations in Nigeria because of an ongoing labor strike, signaling the damaging affect the dispute is having on its operations in the country.
"The (Exxon) affiliates will not speculate about the length of the shut-in nor how long it will take to restart production," an Exxon spokeswoman said.
Nigeria's main militant group Monday said an attack it made on a Royal Dutch Shell PLC (RDSB.LN) oil facility last Thursday knocked out 350,000 barrels a day of production.
If true, it would mean that about three-quarters of Nigeria's effective pumping capacity of 2.5 million barrels a day is off line, according to Dow Jones Newswires estimates.