Nigeria oil output hits 22-year low on renewed unrest

Nigeria's oil output has slumped to a 22-year low, figures showed today, because of pipeline sabotage and increasing unrest that has seen major companies evacuate staff.
Data compiled by Bloomberg indicated that output in Africa's biggest oil producer has fallen below 1.7 million barrels per day (bpd) for the first time since 1994.
Rebels seeking a fairer share of revenue for locals in the oil-rich southern delta are increasingly targeting facilities, posing a fresh security challenge for President Muhammadu Buhari.
The attacks have sparked fears of a repeat of violence and kidnappings that plagued the region in the 2000s and saw Nigeria's output cut by a third, slashing government revenue.

It also risks hitting crude supplies at a time when Nigeria's oil-dependent economy is facing a slump because of the fall in global prices.
Fresh queues at petrol stations around the country restarted this week, following speculation the government was to withdraw fuel subsidies that keep prices low at the pump. Last week, rebels from the Niger Delta Avengers (NDA) group claimed responsibility for an attack on the Okan offshore facility operated by US oil major Chevron.

The company said on Saturday some 35,000 bpd of crude was lost, although some estimates have put the loss higher.
At the weekend, Anglo-Dutch giant Shell evacuated most of its staff from its Eja production facility near the Bonga field.

Local media said 98 personnel were airlifted to safety by helicopter, leaving a skeleton staff protected by the military. Shell's Nigerian subsidiary did not confirm the operation.