Daily Champion (Lagos)
EDITORIAL
December 4, 2006
Posted to the web December 5, 2006
Lagos
The protracted face-off between the oil giant, Shell Petroleum Development Company (SPDC), and its host communities in the Niger Delta region may have produced more human blood than oil. This is because virtually every week the crisis in the region increasingly assumes a dangerous dimension, often resulting in hostage-taking, outright killings, aerial bombardment and general insecurity.
Indeed, since the crisis in the Niger Delta region began, the nation’s crude oil production level has gone down considerably. Some oil companies operating there have been forced to shut down production. The Royal Dutch oil company Shell has had cause not long ago to shut down its western division operation and declared force majeure. Only last October, Shell announced that its annual profit has dropped by 34 percent to $5.94 bn, while revenue rose by 10 percent to $84.25 bn. The company also has lost 455, 000 barrel per day and revenue in excess of $3.2 bn since February this year as a result of the rift between it and the Ijaw communities. read more
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