October 28, 2006
By Carl Mortished
Pipeline oil thefts, kidnappings and now the seizure of Shell’s pumping stations … just another crisis
IS IT extortion or just everyday business? Youths from two villages in the eastern Niger Delta were yesterday occupying several oil pumping stations belonging to Shell Petroleum Development Company (SPDC). The protesters at Akulama and Belema want a contract to supply food to the oil platforms that operate in the adjacent swamps.
Negotiations continue and in the meantime, some 47,000 barrels per day of high-quality Nigerian crude is not flowing. That represents some $2.8 million per day in revenue forgone, a headache for Shell and, more importantly, a big loss for the Nigerian Government, which owns 55 per cent of SPDC and takes the lion’s share of the income from each barrel.
This is a minor disturbance for Shell, compared with the violence that has shut down operations in the Western Delta for most of this year. Shell evacuated all its field staff and contractors after an armed uprising and a series of hostage-takings in which two contractors were killed. read more
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