Nigeria National Strike Hasn't Hit Oil Output, Exports So Far

A nationwide strike Monday against the ending of fuel subsidies in Nigeria has not had an impact on the country's oil production and exports so far, said oil industry and shipping sources.

The planned strike in Africa's largest oil producer contributed to a rise in international oil prices last week on concerns that workers at oil fields and terminals could join in.

But a shipping source said oil "vessels are coming in and out normally and production operations are not affected."

The information was confirmed by an official at the country's national oil company and at a foreign operator.

A source close to the National Union of Petroleum and Natural Gas also said it isn't enthusiastic about the strike and the trade union is watching events.

Nigeria's two main labor unions said Sunday they will go ahead with the strike in spite of a last minute appeal by President Goodluck Jonathan for understanding and support for his administration's programs.

The unions are against the ending of fuel subsidies from last Sunday, which has resulted in gasoline prices rising by more than 100% and higher prices for food and other goods and services.

A Royal Dutch Shell PLC (RDSA) spokesman in Nigeria said the company was monitoring the situation. "Our focus remains the safety and security of our staff, contractors and facilities," Tony Okonedo said in a text message to Dow Jones Newswires.

Meanwhile, a spokesman for Exxon Mobil Oil Nigeria said it supports dialogue to end the crisis.

"We are aware of the strike action embarked on by labor, and we encourage and support dialogue between the relevant parties to resolve outstanding matters," Nigel Cookey-Gam, a company spokesman said in a statement. He added that the company remains "hopeful of a resolution and are monitoring the situation."