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Shell Africa chief attacks Nigeria levies

Financial Times

By Tom Burgis in Abuja

Published: February 23 2010 12:52

Royal Dutch Shell’s outgoing Africa chief on Tuesday delivered a blistering attack on Nigeria’s management of its vast oil and gas reserves but scotched rumours that the Anglo-Dutch group was looking to leave the country.

Echoing industry claims that planned legislation could deal a killer blow to investment in the fast-expanding deepwater sector, Ann Pickard, whose four-and-a-half-year tenure as Shell’s Africa boss ends in March, warned the continent’s biggest energy producer that it risked being eclipsed by its sub-Saharan African rivals.

Ms Pickard rebuffed recent speculation that Shell intended to terminate its 50-year relationship with Nigeria. “Take it from me, Shell has no plans to pull out of Nigeria,” she said.

FULL FT ARTICLE (SUBSCRIPTION)

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