Nigerian president laments lost oil production

Abuja - Nigeria's President Olusegun Obasanjo Wednesday in Abuja lamented crises, particularly hostage taking, in the oil-rich Niger Delta as he presented his 2007 budget to parliament. 'In the second quarter of 2006, we lost production of 600,000 barrels per day due to disruptions in the Niger Delta. These losses are likely to continue until year-end.' 'We have remained conservative in our estimate of crude oil production for 2007 given the present disruptions in the Niger Delta. Due to these losses, we estimate that revenue accruing to the country will be 4.3 billion dollars less than planned,' he said. In the latest round of hostage taking Tuesday, youths of a community in Bayelsa State, in the Niger Delta, took over a facility of Anglo-Dutch oil giant Shell and took 46 workers hostage. Hostage-taking has increased in the Niger Delta since August as youths demand compensation, jobs and environmental remediation from multinational oil companies working there. © 2006 dpa - Deutsche Presse-Agentur

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