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Especially, on the coastal waters in Nigeria, acts of depredation against ships and fixed oil installations have been taking place, consequently resulting in “far greater financial losses and a far wider economic impact than anything seen so far anywhere in the world.”. [7]
The operations are therefore organised in a way that prevents state authorities from interfering at any time of this process. Petro-piracy, on the other hand, must navigate state institutions to gain access to oil markets. This requires strong cooperation with formal actors within the Nigerian economy. [1]
“The threat of piracy has cost the region lives, stability, and over $1.9 billion in financial losses every year,” Ghada Waly, executive director of the U.N. Office on Drugs and Crime, told ...
Piracy in the Gulf of Guinea. Three men are fined by a court in Port Harcourt, Nigeria, for hijacking the oil tanker MV Elobey VI off the coast of Equatorial Guinea and holding the crew hostage for US$200,000 in March. They are the first people to be convicted under Nigeria's new anti-piracy law. 2020 Bangalore riots
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The economic cost of piracy in the Gulf of Guinea, encompassing stolen goods, security measures, and insurance expenses, has been estimated at approximately $2 billion. [ 9 ] According to the Control Risks Group , pirate attacks in the Gulf of Guinea had maintained a steady rate of around 100 attempted hijackings by mid-November 2013, ranking ...
Fmovies has been on the US Trade Representative’s “notorious markets” list for counterfeiting and piracy since 2017. The USTR’s latest report states that Fmovies is linked to more than 60 ...
Piracy in the Gulf of Guinea affects a number of countries in West Africa as well as the wider international community. By 2011, it had become an issue of global concern. [1] [2] Pirates in the Gulf of Guinea are often part of heavily armed criminal enterprises, who employ violent methods to steal oil cargo. [3]