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Daily Mail – London: Attacks on Shell filter through to oil price

Royal Dutch Shell suspended almost half of its Nigerian output after a series of attacks over the weekend.
The Anglo-Dutch oil giant said production is down by 455,000 barrels a day, out of a total of around a million.
The price of a barrel of oil rose as much as $1.74 to $61.63 in London trading as news of the violence in the West African country emerged.
Rebels kidnapped nine foreign oil workers on Saturday, and a fire broke out at an export terminal.
Militants are threatening to escalate their attacks on foreign producers as they call for more local control over oil revenues.
The violence is sparking concerns that both Nigeria and Shell will find it hard to meet their production targets this year, pushing global oil prices higher. The setback comes as Shell struggles to replace reserves and boost production, even after reporting record profits.

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