Shell’s Production In Nigeria Drops By 41% - Politics

Shell’s Production In Nigeria Drops By 41% - Politics - Nairaland

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Shell’s Production In Nigeria Drops By 41% by straneur(op): 6:36am On Jul 29, 2016

Global oil giant, Royal Dutch Shell, on Thursday said its liquids production available for sale in Nigeria plunged by 41 per cent in the second quarter of this year.

Shell announced a 72 per cent drop in second quarter earnings amid the continued weakness in global oil and gas prices.

The oil major’s liquids production available for sale in Nigeria was put at 37,000 barrels per day in the second quarter of this year, down from 63,000 bpd in the same period of 2015.

Total production by Shell Production Development Company of Nigeria Limited, its local subsidiary, stood at 128,000 barrels of oil equivalent per day, down from 163,000 boepd in the same quarter of last year.

A series of militant attacks in the Niger Delta targeted at oil and gas facilities belonging to oil majors, including Shell, Eni and Chevron, the Nigerian National Petroleum Corporation and Aiteo, has led to the shutdown of several fields in the country.

Currently, Forcados, Qua Iboe and Brass River crude oil grades are under force majeure, while Escravos and Bonny Light are facing significant loading delays.

“Earnings could be further impacted if the security conditions continue to deteriorate,” Shell said in its second quarter 2016 report.

This month, Shell shut the Trans Niger pipeline, which is one of the pipelines that carry crude to the Bonny Light Export Terminal, following a leak in Ogoniland.

Oil theft and sabotage are rampant in the Niger Delta. Militant groups have orchestrated a campaign of attacks on oil infrastructure this year that saw the nation’s oil production fall to its lowest in nearly three decades.

http://investorsking.com/shells-production-in-nigeria-drops-by-41/

Re: Shell’s Production In Nigeria Drops By 41% by NavierStokes(m): 7:57am On Jul 29, 2016

I never knew shell was doing these low volumes. Probably this isn't the aggregate production of SCIN but SPDC.

Re: Shell’s Production In Nigeria Drops By 41% by yang(m): 8:08am On Jul 29, 2016

Clearly another criminal company that got rich from stealing resources of Communities in the Niger Delta while the people who an indigenous to these areas live in abject poverty.

The time for free oil is over

No more oil export

Time to turn the coasts of Niger delta and the sandy beaches to a cool environmental paradise it once was.

1 Like

Re: Shell’s Production In Nigeria Drops By 41% by nijabazaar: 8:25am On Jul 29, 2016

better...let them lose as much profit....maybe if this happens true diversification would occur.

there are so many advantages to shellz loss...one of them might be
...A quench to this useless amalgamation.
.......

1 Like

Re: Shell’s Production In Nigeria Drops By 41% by Izonpikin: 8:29am On Jul 29, 2016

na wa oo..

shell just be patient..e go better for ona....niger delta needs to fight out resource control issues with the fraudulent FG...

Re: Shell’s Production In Nigeria Drops By 41% by evilapc: 8:29am On Jul 29, 2016

Since ND benefits nothing special from the oil, it is better exploitation and exploration stop

Re: Shell’s Production In Nigeria Drops By 41% by Izonpikin: 8:30am On Jul 29, 2016

NavierStokes:
I never knew shell was doing these low volumes. Probably this isn't the aggregate production of SCIN but SPDC.

i think it is from spdc..snepco shouldn't be recording a drop in production..

Re: Shell’s Production In Nigeria Drops By 41% by LordVarys: 8:37am On Jul 29, 2016

NavierStokes:
I never knew shell was doing these low volumes. Probably this isn't the aggregate production of SCIN but SPDC.

Exactly this is way too low, SNEPCO which handles their offshore fields produces way more, even Bonga field produces way more than this. This must be just SPDC especially since they've sold most of their onshore assets.

Re: Shell’s Production In Nigeria Drops By 41% by NavierStokes(m): 8:41am On Jul 29, 2016

LordVarys:
Exactly this is way too low, SNEPCO which handles their offshore fields produces way more, even Bonga field produces way more than this. This must be just SPDC especially since they've sold most of their onshore assets.

Izonpikin:
i think it is from spdc..snepco shouldn't be recording a drop in production..

Thanks fratelli, you are very right.

1 Reply

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