New one billion barrel oil field found off Nigeria
27th October 2016
US oil company ExxonMobil says it has made a "significant discovery" of oil off the coast of Nigeria.
In a tweet it says it could yield up to one billion barrels of oil.
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#JustAnnounced an oil discovery of between 500M & 1B barrels offshore Nigeria. Find out more here http://news.exxonmobil.com/press-release/exxonmobil-announces-significant-oil-discovery-offshore-nigeria …
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ExxonMobil operates the Owowo oil field, where the discovery was made, and owns just over a quarter of it, the AP news agency reports.
It adds that Nigeria's state oil company holds the majority share.
Rebels have carried out a spate of attacks on oil facilities in Nigeria to demand that poor communities benefit from the oil wealth.