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(From Aberdeen Press & Journal)
Recent data on the oil&gas sector in sub-Saharan Africa indicates that Angola is overtaking Nigeria as Africa's biggest oil producer.
Widespread insecurity in the Niger Delta -- such as militant attacks on oil facilities, a rise in pirate activity and frequent kidnappings of oil workers -- has contributed to a reduction in Nigeria's oil output by more than 40%, as reported in Energy in August.
In 2005, before the militant group, MEND (Movement for the Emancipation of the Niger Delta), came on the scene, Nigeria still produced 2.6million barrels per day, compared with about 1.7million barrels per day today (according to EIA).
Increasing operational risks in Nigeria have prompted many foreign investors to look elsewhere for a more stable and reliable business environment. US Secretary of State Hillary Clinton remarked recently that Angola was, from the US perspective, 'a formidable …