Chinese oil field hit by rebels
ADDIS ABABA, Ethiopia "” Gunmen raided a Chinese-run oil field near the Somali border on Tuesday, killing 65 Ethiopians and nine Chinese workers, an official of the Chinese company said. An Ethiopian rebel group claimed responsibility.
Seven Chinese workers were kidnapped in the morning attack at the oil installation in a disputed region of eastern Ethiopia, Xu Shuang, the general manager of Zhongyuan Petroleum Exploration Bureau, told The Associated Press.
China has increased its presence in Africa in recent years in a hunt for oil and other natural resources to feed its rapidly growing economy. Its forays into areas considered politically unstable, however, has exposed Chinese workers to attacks.
As rebels get bolder in developing nations that also happen to be petroleum suppliers prices will become increasingly unstable, it doesn't take much to rock the price boat in the oil industry these days. Recent attacks on oil fields in Nigeria were enough to cause large price spikes all over the world, so why are these oil fields not being better protected?
Why does petroleum cost so much these days, here's one answer
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