Shell loses N23bn over insecurity in Nigeria, others
Royal Dutch Shell said yesterday that it lost $146 million, about N23.36 billion from insecurity in Nigeria, and from the impact of its divestment across the globe, among others, in the third quarter of 2014. The company, in its third quarter 2014 financial statement released to the investing community, also stated that it is expecting $15 billion, about N2.4 trillion from its assets in the Niger Delta region of Nigeria. Shell recorded oil and gas production of 2.79 million barrels of oil equivalent per day in the third quarter of 2014, representing a 4.81 per cent decline from 2.93 million barrels per day recorded in third of 2013 and a decline of 9.33 per cent from 3.077 million barrels per day recorded in the second quarter of 2014. According to the financial statement, Shell’s liquids production decreased by four per cent, while natural gas production decreased by six per cent, compared with the third quarter 2013. “Excluding the impact of divestments, Abu Dhabi license expiry, ...