Nigerian Guerilla Threat Hits World Oil Markets Hard

The group, led by Dokubo Asari, released a statement reading that the fight will begin as of October 1st. The group strongly recommends that all foreigners leave the delta.

All of Nigeria’s daily oil production of 2.3 million barrels comes from the Niger Delta. The oil companies operating in the region have dismissed the guerillas’ threats and announced that they would continue their production.

"We believe that the Nigerian security forces will protect the oil fields and the workers," said the Royal Dutch Shell Spokesman Don Boham. Shell is the largest oil production company in the Organization of Petroleum Exporting Countries (OPEC).

Meanwhile, the local government in charge of the region announced that they were not taking the treats seriously.

The People’s Volunteers Force claims that they fight for the rights of those in the region who have not benefited from the vast oil wealth. Asari controlled part of the region in early 2004.

95 percent of Nigeria’s foreign trade is made up of petroleum exports. The African country is the world’s 7th largest producer of oil.