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Financial Post – Canada: Shell, Nigerian militants may be close to agreement over oilfield production: Must meet key demands

May 19th, 2006
by admin.
Shell, Nigerian militants may be close to agreement over oilfield production: Must meet key demands
Financial Post – Canada; May 18, 2006

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Activists in Nigeria's oil heartland have given Royal Dutch Shell PLC promising signals over a possible return to oilfields it was forced to abandon after a series of militant attacks three months ago.

Shell has lost 455,000 barrels per day (bpd) of production since February after attacks and kidnappings by the Movement for the Emancipation of the Niger Delta (MEND), which demands greater local control over oil revenues.

The leader of a militant group with close links to MEND said yesterday he had held several meetings with Shell executives in recent days and had told them his community would allow the company back if it met key development demands. The measures include building fuel depots for riverine communities, micro-credit schemes for local businesses and giving scholarships to youths from the delta.
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