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Nigeria: Shell considers production cut

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June 24, 2013

Shell was considering a further reduction in its oil production in the eastern Niger Delta, it said on Friday. Nigeria wants more of its oil and gas owned either by the state oil company or local firms, raising concerns among foreign oil majors they may lose smaller assets for nothing if they do not sell now, industry experts say. Shell’s Nigerian subsidiary, the Shell Petroleum Development of Nigeria, said on Friday that it would consult with its international and Nigerian partners over the future of the 28 leases that produce some 750 000 barrels a day of oil. – Reuters

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