Will More Violence in Africa Deter BP?

BP’s (NYSE:BP) problems in Algeria have continued into this week, but that has not prevented the British oil and gas producer from pursuing new operations in the neighboring country of Libya.

A security source told Reuters that suspected Islamist militants had attacked an oil pipeline in the northern part of Algeria on Monday. The incident resulted in the death of two guards and the wounding of seven others. The Al Qaeda in the Islamic Maghreb militant group is believed to have been responsible for the attack.

Typically such attacks are not seen in the north, as the region’s heavy security presence has pushed the majority of AQIM activity to the south. The Djebahia region, the group’s stronghold, is located approximately 45 miles east of the capital city of Algiers, which is situated along the Mediterranean coastline. In Amenas, where the attack on a BP facility left 37 civilians dead, is on the country’s border with Libya, and the weapons used by AQIM militants were smuggled in from Algeria’s eastern neighbor, according to the publication.

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However, this raid was far less dangerous than the four-day siege that began on January 16. “In comparison to the In Amenas attack, this is a very minor event,” the source said, referring to the attack on BP’s natural gas plant.

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