- Shell’s Oil Production in Nigeria Rises by 7%
Global oil and gas giant, Royal Dutch Shell, has said its total production in Nigeria increased to 141,000 barrels of oil equivalent per day in the first quarter of 2017 from 132,000 boepd in the same quarter of last year.
The company’s production in Nigeria fell to as low as 105,000 boepd in the third quarter of last year amid a resurgence of militant attacks in the Niger Delta.
Shell, which announced its first quarter 2017 results on Thursday, said its profit soared to $3.4bn, up from $814m for the same period in 2016, on the back of a near-60 per cent increase in oil prices, improved operations and healthy progress on its $30bn divestment programme.
Its liquids production available for sale in Nigeria rose to 34,000 bpd in the first three months of 2017, from 32,000 bpd in the fourth quarter of last year.
The oil major’s natural gas production available for sale in Nigeria increased to 619 million standard cubic feet per day from 601 million scfpd in the fourth quarter of last year.
