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 by Staff Writers Niamey (AFP) Sept 18, 2019
Niger and China are to build a 2,000-kilometre (1,250-mile) pipeline to carry crude oil from southeast Niger to the port of Seme in Benin, the Niger president's office announced Wednesday. President Mahamadou Issoufou launched the project on Tuesday at the Agadem oil field in the southeast of the country, where the China National Petroleum Corporation (CNPC) has been extracting oil since 2011. It is expected to take 42 months to complete at a cost of $4.5 billion. Until now, Niamey has moved crude out via Chad to a port in Cameroon, but deadly jihadist attacks in Nigeria have spilled over the border making the region unstable. Niger's Oil Minister Foumakoye Gado signed the deal on Sunday with Wang Zhong Cai, president of the China National Oil and Gas Exploration and Development Corporation, a CNPC subsidiary.
Oil prices soar more than 10% after Saudi plant attacks Hong Kong (AFP) Sept 16, 2019 Oil prices surged more than 10 percent Monday after attacks on two Saudi Arabian plants that slashed output in the world's top producer by half, with Donald Trump blaming Iran and raising the possibility of a military strike on the country. West Texas Intermediate jumped 10.68 percent to $60.71 and Brent climbed 11.77 percent to $67.31 in early Asia trading following the blasts at facilities run by state-owned giant Aramco. The attack by Tehran-backed Huthi rebels in neighbouring Yemen, where a ... read more
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