Oil Rallies as Roller Coaster Continues – Nigeria Moves to Stabilize Production
Jun 13th, 2008 | By Doug Casey | Category: Oil Investment & Alternative EnergyOn the supply front, Nigeria’s president said the country’s state-owned oil company will take over operations in the Ogoni district of southern Nigeria from a Royal Dutch Shell joint venture. President Umaru Yar’Adua made the announcement after talks with French President Nicolas Sarkozy, saying that the move will “calm down” unrest among local residents.