'Peace returning to Nigeria'

2009-10-21 16:08

kalahari.com

  • Nigeria
    How Ethnic Rivalry and Religious Fundamentalism Threatens Africa's Most Populous Nation Was R342.95 Now R308.66
    buy now

London - Peace is being restored in southern Nigeria's oil producing regions where attacks by separatist rebels have led to a sharp fall in exports, the country's oil minister said Wednesday.

"Peace is coming back in the oil producing areas," minister Rilwanu Lukman said during an oil conference here sponsored by the International Herald Tribune.

"I am confident (the peace process) is in a good way and I hope it will hold and is implemented properly."

He cited in particular an offer of amnesty from Nigerian President Umaru Yar'Adua to militants in the Movement for the Emancipation of the Niger Delta, or Mend, who have been demanding that local communities benefit from the region's oil wealth.

Reports on Monday said Nigeria planned to offer inhabitants of the oil-producing Niger Delta region 10 percent of oil and gas ventures in a bid to end the rebellion.

Mend's three-year campaign has slashed oil output in Nigeria, the world's eighth largest producer, by a third.

Business-like fashion

"We hope operations will come up (in the Delta) and that we will be able to embark on the path of developing our resources in a more business-like fashion," Lukman said.

"I hope Mend doesn't resume attacks on our facilities," he added.

Yar' Adua on Monday held his first-ever meeting with Mend leader Henry Okah at the president's villa in Abuja, with the presidency describing the session as "very fruitful".

Lukman said Nigeria was currently producing 1.6-1.7 million barrels of oil a day, consistent with its quota set by the Organisation of Petroleum Exporting Countries.

The country is also turning out 600 000 barrels a day of condensates, hydrocarbons that condense to form a liquid as they come to the surface and are not covered by OPEC quotas.

Lukman, who said Nigeria enjoyed good relations with international oil companies, said his government was looking for prices of between $60 and $70 a barrel.

But he stressed: "We are not complaining." The price of a barrel of oil rose above $80 on Monday for the first time in a year.

- SAPA
Read more on:    mend  |  nigeria  |  west africa
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

 

Inside News24

 
/Sport
Traffic & Train Alerts
Traffic
Rondebosch 09:39 AM
Road name: M5 Northbound

DELAYS between Kromboom Road and the N2 Highway Interchange

Cape Town 09:28 AM
Road name: N2 Inbound

STATIONARY VEHICLE in the left lane at the Mowbray Main Road exit - DELAYS from Duinefontein Road

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Up to 60% off - clearance sale!

Save up to 60% on appliances, books, electronics, toys, movies and more. Offer valid while stocks last. Shop now!

Deal of the Week!

Get bestselling John Green novels now just R99 each! Hurry and get yours while stocks last. Shop here.

Mind blowing deals on beauty & fragrances

Save up to 30% off beauty and fragrances. Offer valid while stocks last. Shop now!

Up to 50% off hair care products!

Save up to 50% on professional hair care products at kalahari.com. Offer valid while stocks last. Shop now!

30% off academic books

Score a mind blowing 30% off academic books! Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

Social media is pulling you in and you have the desire to find out everything you know about your friends and you have the urge to...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.