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Shell shares fall on Nigerian troubles

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Reuters: Shell shares fall on Nigerian troubles

Mon Apr 28, 2008 3:47pm BST

Shares in oil major Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) fall after Nigerian rebels say they have shut in 350,000 barrels per day of production and a senior oil official and industry sources tell Reuters that Exxon Mobil (XOM.N: Quote, Profile, Research) has shut almost all its Nigerian production.

Shell’s London-listed “A” shares trade down 0.41 percent compared to a 0.75 percent rise in the DJ Stoxx European oil and gas sector index .

One analyst says the incidents seem worse than the disturbances which have been troubling the area for over a years. “The on-shore is in a pretty dreadful state,” he says.

Reuters Messaging: [email protected]

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