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ChevronTexaco To Hold Up Output

The delay will cause the daily loss of $4.76 million revenue

ChevronTexaco To Hold Up Output

US oil company ChevronTexaco announced it will postpone its plans to resume oil production in the area of Niger Delta.

The delay will lead to further loss of 140,000 barrels per day of Nigeria's crude oil production, which will cause the daily loss of $4.76 million revenue.

The Federal Government, however, yesterday, directed security operatives to find the militant youths responsible for the attack and the killing of oil workers.

Chevron said last night that the death toll in the boat attack has risen to seven. The company representatives stated that two of the dead were United States citizens, working for International Business Systems Inc. a contractor company to Chevron.

The remaining casualties were Nigerians including, the captain of the boat attacked by the armed gang, a crew member, both employees of Wilbros Nigeria Limited, and three Naval security personnel, it said.

The company said all the bodies of the dead persons had been recovered.

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