Economic Calendar

Thursday, December 4, 2008

Addax Says Vessel Attacked Near Nigerian Oil Facility

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By Alexander Kwiatkowski

Dec. 4 (Bloomberg) -- Addax Petroleum Corp., the Swiss oil producer focusing on Africa and the Middle East, said a vessel was attacked near one of its crude oil facilities in Nigeria.

The vessel, the Oceanic Orion, was attacked near the Addax- operated Adanga crude oil flow station, Geneva-based spokeswoman Marie-Gabrielle Cajoly said in an e-mailed statement today. “There have been no casualties and no impact on production,” she said. She was unable to give further details.

Nigeria’s crude industry has suffered this year from militant attacks and oil theft, which have at times allowed competing African producer Angola to overtake as the continent’s biggest exporter.

Earlier this week, Eni SpA, Italy’s largest oil company, suspended obligations on some Nigeria oil exports following a pipeline disruption.

Addax pumped an average 103,630 barrels a day of oil in Nigeria in the third quarter of 2008, according to a company statement last month.

To contact the reporter on this story: Alexander Kwiatkowski in London at akwiatkowsk2@bloomberg.net




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