Nigerian workers have been striking against the doubling of gasoline prices in the country since the government eliminated its subsidy on January 1st. Now the country’s 20,000 oil field workers are threatening to join the strike on Sunday unless the government restores the subsidies. Gasoline now costs about $3.50/gallon in Nigeria, compared with about $1.70/gallon in December.
Large oil producers like Royal Dutch Shell plc (NYSE: RDS-A), Chevron Corp. (NYSE: CVX), and Exxon Mobil Corp. (NYSE: XOM) would all be affected by a work stoppage.
Nigeria produces about 2.4 million barrels/day, much of which is exported to the US, and accounts for abut 80% of the country’s revenue.
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