Wednesday, July 4, 2007

Crude Oil Trades Near 10-Month High After Attack on Shell 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
disruption 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 Energy News

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