Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/14/2014 (6 months ago)

Catholic Online (www.catholic.org)

Security in Africa's largest oil producer is a daily challenge and oil theft 'very material'

Nigeria, Africa's largest oil producer, faces rampant oil theft. Security there is slim to nonexistent, and the amount of oil and related products are very material and substantial. Royal Dutch Shell RDSa.L lost nearly $1 billion due t theft. Theft and various disruptions to it's the nation's oil and liquefied natural gas operations lat year is costing the country dearly.

While criminals who tap crude from pipelines for local refining are among the most common means for oil theft, stolen oil also leaves Nigeria in tankers.

While criminals who tap crude from pipelines for local refining are among the most common means for oil theft, stolen oil also leaves Nigeria in tankers.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

3/14/2014 (6 months ago)

Published in Africa

Keywords: Nigeria, oil theft, deepwater, Africa


LOS ANGELES, CA (Catholic Online) - Updating investors on its strategy, the Anglo Dutch company says that proposed Nigerian legislation had curbed investment and has hindered production.

Nigeria is highly important for Shell. The African nation provides almost 10 percent of the company's output and is seen as a source of future growth. In its annual report, Shell said that some risks of working in Nigeria had worsened.

WISH POPE FRANCIS A HAPPY ANNIVERSARY!

The Nigerian Petroleum Industry Bill, or PIB, a piece of legislation several years in the making, has not passed. If it is passed, it could change the terms for foreign oil companies in the country.

"There are at least three to four different versions of it and most of them have been unhelpful to supporting future investments in the country," Simon Henry, Shell's chief financial officer, says.

"Therefore the industry at large has taken almost no significant investment decision in that six, seven-year period. So the country's four million barrel-a-day target has effectively become actual production of less than 2 (million bpd)."

Nigeria produced about 1.9 million bpd in February, according to OPEC figures.

While criminals who tap crude from pipelines for local refining are among the most common means for oil theft, stolen oil also leaves Nigeria in tankers.

"The theft is very material," Henry said. "Figures have been quoted up to a billion dollars a month being stolen from the government, in effect, and that figure is probably accurate."

Shell's Nigerian oil and gas output averaged 265,000 barrels of oil equivalent per day in 2013, down 100,000 bpd from 2012 and equal to about eight percent of total supply of 3.2 million bpd.

Shell is currently in the process of selling some onshore Nigerian oil blocks. The company views Nigeria as a source of longer-term growth. Henry says Shell would continue to invest in gas and deepwater projects.

---


Pope Francis: end world hunger through 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for September 2014
Mentally disabled:
That the mentally disabled may receive the love and help they need for a dignified life.
Service to the poor: That Christians, inspired by the Word of God, may serve the poor and suffering.



Comments


More Africa

Algeria opposes a foreign intervention in Libya Watch

Image of Algerian Minister of Foreign Affairs Ramtane Lamamra stressed that

By Kaci Racelma (Algiers, Algeria)

Algeria cannot accept "foreign military intervention in Libya." Algerian Minister of Foreign Affairs, Ramtane Lamamra made that assertion while in Madrid last week. The occasion marked an international conference on support and development of Libya, which was ... continue reading


Health team butchered in Guinea as Ebola outbreak accelerates Watch

Image of Health workers in Guinea being decontaminated after handling potentially Ebola infected materials.

By Catholic Online (NEWS CONSORTIUM)

Eight members of a medical team attempting to raise awareness about Ebola have been killed by villagers using machetes and clubs in Guinea. LOS ANGELES, CA (Catholic Online) - The bodies of health workers, local officials and journalists were found in a septic tank ... continue reading


A new name for terror: Djounoud Al khalifa Watch

Image of Created this month by Khaled Abu Suleiman, whose real name is Gourou Abdul Malik, a 50-year-old man who left al-Qaeda in the Islamic Maghreb in order to pledge allegiance to Abu Bakr Al Baghdadi as the commander of all followers of Islam.

By Kaci Racelma (Algiers, Algeria)

"Djounoud Al khalifa," or Soldiers of the Caliph is the given name of the new pivot of the Islamic State in Iraq and the Levant, or ISIL, which has been freshly created by the Islamic State in Islamic Maghreb. North Africa is now bracing for a spate of new ... continue reading


Death toll isn't the only toll: Ebola outbreak will cause untold economic damage Watch

Image of Aid workers in protective suits deal with Ebola infected patients.

By Catholic Online (NEWS CONSORTIUM)

A new report from the World Bank has revealed that the West African Ebola outbreak could cost affected nations billions of dollars and slash economic growth rates by double digits if the virus continues to spread. LOS ANGELES, CA (Catholic Online) - Besides just ... continue reading


PRAY FOR NIGERIA - Catholic Church reports as many as 20 priests hiding from Boko Haram in Nigeria Watch

Image of Nigerian Christians are under serious threat from Boko Haram.

By Catholic Online (NEWS CONSORTIUM)

The Catholic Church is warning the world that 25 villages, all with large Catholic populations, remain under the firm control of Boko Haram, an Islamic militant groups that has aligned itself with the Islamic State. LOS ANGELES, CA (Catholic Online) - The Catholic ... continue reading


World bank loans $105 million to combat Ebola Watch

Image of The grant, approved on the same day U.S. President Barack Obama pledged to send 3,000 military troops to the region, will also pay for training programs for international staff going to the countries, and basic supplies for quarantined areas.

By Stella Dawson, Thomson Reuters Foundation

The World Bank approved a $105 million grant on Tuesday to speed up delivery of emergency supplies and provide support for healthcare workers in the three West African countries worst affected by the Ebola crisis. (Thomson Reuters Foundation) - The disease has ... continue reading


SECURITY THREAT: U.S. troops to join in fight against Ebola Watch

Image of Liberia, a nation founded by freed American slaves and the hardest hit of the countries affected by the crisis will be the focus of the U.S. military deployment.

By Catholic Online (NEWS CONSORTIUM)

West Africa's deadly Ebola outbreak has been declared a threat to global security by U.S. President Obama and has since announced a major expansion of the U.S. role in trying to turning the deadly tide. In response, the president has deployed 3,000 troops to ... continue reading


Has Ebola gone airborne? Fears spread that virus could mutate Watch

Image of The World Health Organization has reported that the West African outbreak of Ebola has caused 2,500 deaths since it began in early 2014.

By Catholic Online (NEWS CONSORTIUM)

Concerns have been raised that the federal government is anticipating a rapid spread of the Ebola virus, as evidenced by the U.S. State Department ordering 160,000 hazmat suits. LOS ANGELES, CA (Catholic Online) - Market Watch posted a press release in which ... continue reading


Obama declares war on Ebola! 3,000 U.S. Marines and soldiers head to Liberia Watch

Image of 3,000 U.S. soldiers and Marines are going to be sent to Liberia to help stop the current Ebola outbreak.

By Catholic Online (NEWS CONSORTIUM)

Thousands of U.S. troops will arrive in the West African nation of Liberia as part of President Barack Obama's response to the Ebola outbreak that is wreaking havoc in the region. LOS ANGELES, CA (Catholic Online) - "U.S. Africa Command will set up a Joint Force ... continue reading


Traditional methods of fighting disease are not working in West Africa Watch

Image of Health workers transport the body of an Ebola victim wrapped in a plastic bag. Ebola victims are burned in the bags they're collected in.

By Catholic Online (NEWS CONSORTIUM)

The Ebola outbreak in West Africa, which continues to ravage countries like Liberia, Sierra Leone and Guinea, has so far proved resistant to traditional methods of combating epidemics, notably contact tracing. LOS ANGELES, CA (Catholic Online) - Lt. Rebecca Levine, ... continue reading


All Africa News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Proverbs 3:27-34
27 Refuse no kindness to those who have a right to ... Read More

Psalm, Psalms 15:2-3, 3-4, 5
2 Whoever lives blamelessly, who acts uprightly, who ... Read More

Gospel, Luke 8:16-18
16 'No one lights a lamp to cover it with a bowl or ... Read More

Saint of the Day

Saint of the Day for September 22nd, 2014 Image

St. Thomas of Villanueva
September 22: Augustinian bishop. Born at Fuentellana, Castile, Spain, he was ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter