
It was learnt that no fewer than 3,000 staff of the company might be laid off in a major re-structuring that will be announced by the company soon.
Click to continue reading “Nigeria: Niger Delta - Financial Crisis Hits Shell”
Following recent in-cessant attacks on its production facilities and widespread theft of its crude oil and condensate, especially in the volatile Niger Delta region, the Shell Petroleum Development Company (SPDC) has described the situation as precarious and “an impending disaster in the oil industry”.
Click to continue reading “Sabotage of our Nigerian facilities is at disaster level - Shell”
PORT HARCOURT, Nigeria (AFP) — Oil major Royal Dutch Shell said Saturday it was losing the equivalent of 30,000 barrels of crude oil per day because of recent attacks against its installations in Nigeria.
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LONDON — The recent slump in Nigeria’s oil output may have been disastrous for Africa’s largest oil producer, but problems could worsen.
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Nigeria production, which fell to the lowest level in a decade in April, has been cut a further this month by rebel assaults on Royal Dutch Shell Plc pipelines. OPEC said yesterday it doesn’t need to increase supplies, even as its president warned prices may reach $200 a barrel.
Click to continue reading “Oil Rises to Record Above $125 as Nigeria Cuts Curb U.S. Supply”
Oil giant Royal Dutch Shell has said that as long as militants continue to attack its facilities and the situation goes unresolved, gas flaring will continue in the country.
Click to continue reading “Nigeria: Gas Flaring - 2008 Deadline Not Achievable - Shell”
LONDON, May 8 (Reuters) - Royal Dutch Shell (RDSa.L: Quote, Profile, Research) said on Thursday part of its oil production in Nigeria remains shut following a spate of sabotage in April to its oil facilities and it still does not know when it can restore the lost production.
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Is it possible that in the midst of the most grueling political ordeal of his life, Barack Obama took time out last week to negotiate with Nigerian Militants?
Click to continue reading “Niger Delta Rebels Bomb Shell; Say They Accept Obama Cease-Fire Appeal”
Indeed, even if the violence subsided, allowing work crews to safely return to the field, funding is another stumbling block. More than an additional $3 billion needs to be spent to complete the programme to build gas gathering facilities and pipelines. Reduced funding from Shell’s government partner has already delayed work on several projects.
After an eight-day strike, ExxonMobil has returned its oil production output in Nigeria to normal operating levels, while Shell plans to kick off a partial resumption of production after it shut down operations following militant attacks.
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