Wednesday, 04 July 2007

Oil Trades Near 10-Month High in New York After Attack on Rig in Nigeria

(Bloomberg) -- Crude oil traded near a 10-month high
in New York after Royal Dutch Shell Plc said militants attacked
its rig in Nigeria, raising concern about further oil-supply
disruptions from Africa's largest producer.

Five expatriate contractors working for Lonestar Drilling
Nigeria Ltd. were taken hostage, said Precious Okolobo, a
spokesman for Shell's Nigerian venture. The attack occurred early
this morning in the Soku field, where the rig was drilling a
well. No production was affected, he said.


Read more at Bloomberg Commodities News

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