By Elisha Bala-Gbogbo – Aug 1, 2011 2:49 PM GMT+0100
Nigerias oil and gas reserves are declining at as much as 12 percent a year, with production from onshore and shallow-water oil fields having reached their peak, Petroleum Minister Diezani Alison-Madueke said.
Africas largest oil producer plans to boost deep-water production through measures including the passage of a new oil industry law before the end of this year, Alison-Madueke told reporters today in Abuja, the capital. Nigeria needs to take a pragmatic approach in the new legislation to address concerns by international energy companies that the new law will hand too much profit and control to the state, she said.
Nigeria missed its target to boost reserves to 40 billion barrels and raise output to 4 million barrels a day by 2010. Total crude oil and condensate reserves fell 4.8 percent to 37.16 billion barrels from 38.76 billion barrels in 2010, according to the Department of Petroleum Resources, the countrys oil industry regulator. Oil exploration in Nigeria slumped to the lowest in a decade after producers including Royal Dutch Shell Plc and Total SA backed away from investing until the countrys petroleum law is passed.
Nigeria is the fifth-biggest source of U.S. oil imports. Royal Dutch Shell Plc, Exxon Mobil Corp., Chevron Corp., Total SA and Eni SpA operate joint ventures with the state-owned Nigerian National Petroleum Corp. that pump more than 90 percent of the West African nations crude.
A new law that will change the way the oil industry is funded and regulated, will be given speedy passage when parliament returns from a six-week recess in September, Alison- Madueke said.
To contact the reporter on this story: Elisha Bala-Gbogbo in Abuja at [email protected]
To contact the editor responsible for this story: Dulue Mbachu at [email protected]
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
