Gulf Of Guinea Piracy Increases Amid Unrest And Rising Oil Prices

Gulf of Guinea piracy is set to become the next major concern for oil shipments as attacks, particularly on oil tankers, are on the rise, along with insurance premiums for shippers; but a recalculation of security needs beyond the short-term requires understanding the complex dynamics of a number of conflicts and a variety of groups.  In February 2012 alone, eight oil tankers were hijacked in the Gulf of Guinea, off the coasts of Nigeria, Benin and Cameroon – double the number from the previous month. A total of 13 attacks have been…

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