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Shell Lost 90,000B/D Nigerian Output In 2Q Due To Insecurity

JULY 30, 2009 2.27 A.M. ET

LONDON (Dow Jones)–Insecurity cost Royal Dutch Shell PLC’s (RDBS.LN) Nigerian onshore and shallow water unit 90,000 barrels a day in the second quarter, the company said Thursday.

The disclosure follows a wave of militant attacks in May and June in retaliation for a military offensive, though both sides have now declared a ceasefire following a presidential amnesty offer.

In its second quarter earnings, the Anglo-Dutch major said oil and gas output at its Nigerian onshore and shallow water unit declined to 120,000 barrels of oil equivalent in the second quarter 2009, on a Shell net basis, compared with 210,000 barrels a day, in the year-earlier period.

-By Benoit Faucon, Dow Jones Newswires; +44-20-7842-9266; [email protected]

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