Tuesday, February 6, 2007

Nigeria's Conflicted Oil Industry

With 95% of Nigeria’s exports being comprised of petroleum and petrol products, oil is a vital part of Nigeria’s economy. Nigeria is 8th in the world for exporting crude oil and is increasing its production. The country is dependent on this export and the continued success is important to the United States, as it is Nigeria's biggest partner in exports.

The booming industry has caused great unrest with many Nigerians, especially in the Niger Delta, who see little of the oil profits because the large oil companies hire mainly foreign workers. The environmental destruction and pollution caused by these companies adds to the unrest of the native peoples. This has led to many attacks on the oil companies by militant groups over the past decade. The most recent violence against the oil industry has been the kidnapping of more than 30 foreign workers in the Niger Delta over the course of this past week.