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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: elmatador who wrote (55312)11/1/2004 7:41:37 PM
From: Joe S Pack  Read Replies (2) | Respond to of 74559
 
elmatador,
Is there a need for regime change if the current stance continues?

It seems Shell has been declared by the public as enemy of the people of Nigeria. How much power those unions have? Are they part of the ruling gang?

hindu.com


Nigerian unions declare Shell public enemy

LAGOS, NOV. 1. Unions declared the top oil multinational here, Royal Dutch/Shell, ``an enemy of the Nigerian people'' and called a November 16 nationwide strike that they said would target oil exports in Africa's oil giant.

The threats on Sunday in the world's No. 7 oil exporter — the fifth largest supplier of oil to the United States, which has a national election on Tuesday — appeared likely to send new shocks through the global oil price market.

Unions called the November 16 strike after giving the Nigerian President, Olusegun Obasanjo, until Sunday to reverse September's 23 percent increase in fuel prices in Nigeria.

Firm singled out

Union leaders singled out Royal Dutch/Shell Group, Nigeria's largest petroleum producer. They said the firm planned to take the country's white-collar oil union to court on Monday, in an attempt to prevent it from striking.

Shell officials would not comment on the matter and government officials could not be reached.

``We have resolved to declare Shell an enemy of the Nigerian people,'' Adams Oshiomhole, leader of the main Nigeria Labour Congress, told reporters.

``Shell will be treated as an enemy. We have the capacity to engage them,'' Mr. Oshiomhole said, without elaborating.

An October general strike over the fuel price increases paralysed business overall but left petroleum exports unaffected.

The strike helped push oil prices past the $50 a barrel mark. Early on Monday in Asia, December crude on the New York Mercantile Exchange was trading electronically at $52.25 a barrel — up 49 cents from its Friday closing.

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