Royal Dutch/Shell is considering a further reduction in its oil production in the eastern Niger Delta, where decades of spills and oil thefts have damaged the region’s environment and the reputation of the company.
LONDON/LAGOS |
(Reuters) – Royal Dutch/Shell (RDSa.L) is considering a further reduction in its oil production in the eastern Niger Delta, where decades of spills and oil thefts have damaged the region’s environment and the reputation of the company.
Nigeria’s government wants more of its oil and gas owned either by the state oil company or local firms, raising concerns among foreign oil majors they may lose smaller assets for nothing if they don’t sell now, industry experts say.
Shell’s Nigerian subsidiary, the Shell Petroleum Development Co. of Nigeria Ltd. (SPDC), announced a strategic review of its business on Friday, saying it would consult with its international and Nigerian partners over the future of the 28 leases that produce some 750,000 barrels a day of oil.
Shell has already sold eight Niger Delta licences for a total $1.8 billion (1.1 billion pounds) since 2010. Earlier this week U.S.-based Chevron Corp (CVX.N) said it would sell five Nigerian shallow-water oil blocks.
Foreign oil companies have suffered from widespread oil theft and at-times difficult relationships with local communities, driving up the costs of operating there, while a long-delayed energy bill is stuck in parliament, adding to industry uncertainty.
Shell’s review of its Niger Delta oil licences came alongside a decision to go ahead with two other investments in the west African country – the Trans-Niger Pipeline loop-line (TNPL) and Phase Two of the Gbaran-Ubie gas project, which together will cost around $3.9 billion.
The pipeline investment is aimed at better protecting it against the thefts and sabotage it suffers. As recently as Thursday this week, Shell shut the Trans-Niger Pipeline after an explosion and fire at what it called a “crude oil theft point”.
The Gbaran-Ubie gas project is slated to maintain supplies to the Nigeria Liquefied Natural Gas plant and to the Gbaran-Ubie power plant.
SPDC Managing Director, Mutiu Sunmonu said: “Today’s announcements demonstrate our long term commitment to Nigeria by clearly signalling our intent for the strategic direction of Shell in Nigeria.”
(Reporting by Andrew Callus and Joe Brock; Editing by Elaine Hardcastle)
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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.
