Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Shell reports 41% rise in onshore Nigeria oil spills due to sabotage

Published 12/03/2020, 11:00
Updated 12/03/2020, 11:09
© Reuters.  Shell reports 41% rise in onshore Nigeria oil spills due to sabotage
SHEL
-
TTEF
-
ENI
-

LONDON, March 12 (Reuters) - Royal Dutch Shell's RDSa.L

onshore Nigeria subsidiary saw a 41% rise in the number of crude

oil spills due to theft or pipeline sabotage in 2019, the group

said in its annual report.

Shell Petroleum Development Company of Nigeria (SPDC) also

recorded a rise in the volume of oil spilt in the Niger Delta as

a result of illegal activity to 2,000 tonnes in 2019 from 1,600

tonnes a year earlier.

Of a total 164 SPDC spills of more than 100 kilograms in

the delta, 157 were due to theft and sabotage, Shell said. That

compared with 111 spills due to sabotage in 2018.

SPDC is a joint venture of the Nigerian National Petroleum

Corporation (NNPC), which holds a 55% stake, Shell, its

operator, with 30%, France's Total TOTF.PA with 10% and

Italy's Eni ENI.MI with 5%.

It produces around 1 million barrels of oil per day and

operates more than 6,000 kilometres of pipelines in the delta.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.