Piracy Threatens West Africa Oil Expansion
From Google News
Piracy is a growing threat to West Africa’s plans to double oil production over the next decade and is already having a devastating impact on ports, the UN Security Council was warned Monday.
A growing number of attacks are being recorded in the Gulf of Guinea and entries into some ports have been cut by more than two-thirds as insurance premiums skyrocket, ministers and officials told a council debate on piracy.
Industry groups and governments had been planning to increase oil production in West African countries from the current four million barrels a day to eight million over the next decade.