Nigeria’s crude output and oil revenue is set to increase by 150,000 barrels per day and $16.05 million, about N2.568 billion daily, as Shell Petroleum Development Company of Nigeria Limited, SPDC, yesterday, reopened a section of its Trans Niger Pipeline, TNP, gutted by fire three days ago.

Shell warned on Friday it may not meet production targets for crude exports in Nigeria after it shut down a major pipeline repeatedly hit by sabotage and theft.

Mallam Nuhu Ribadu of the defunct Action Congress of Nigeria (ACN) has disagree with the arguments that Nigeria is a failed country, saying that despite its present predicaments Nigeria still has “great promises” that could be converted to important gains. And that he would like t see Shell Shell establishing a refinery in Nigeria.

Anglo-Dutch energy giant Shell’s Nigerian subsidiary said Monday it has been forced to defer exports of 150,000 barrels of oil per day after thieves sabotaged its main pipeline.

Negotiations between Shell and Nigerian residents affected by two oil spills in 2008 failed to reach a compensation deal Friday, with residents’ lawyers calling the oil giant’s settlement offer “insulting.”

Nigeria’s unemployment situation is set to worsen, as the fate of about 10,000 workers in the Olokola Liquefied Natural Gas project, OKLNG, is currently on the line, following the pulling out of Chevron and Shell, which threatens the continuation of the project.

Shell Nigeria, Wednesday, denied claims that its parent company, Royal Dutch Shell, lost $700 million (N112 billion) in second quarter 2013, due to crude theft and other sundry issues in Nigeria, saying that the actual amount lost to operational difficulties in Nigeria is $250 million (N40 billion).

Nigerian National Petroleum Corporation, NNPC, has disagreed with claims that Shell lost $700 million to oil theft in the second quarter of the year.

Royal Dutch Shell PLC (RDSB.LN) has notified the Nigerian government that it is interested in buying some of U.S. firm Chevron Corp’s (CVX) Nigeria oil licenses, said a senior Nigerian government official Thursday.

Oil giant, the Royal Dutch Shell Plc has notified the Nigerian government that it would like to buy some of U.S. firm, Chevron Nigeria’s licences.

…Lost N112bn to crude theft in Nigeria in Q2
Shell Petroleum Development Company Plc, SPDC, said it invested $281.2 million (N44.99 billion) in the Niger Delta in 2012.

hell Petroleum Development Company Plc, SPDC, said it invested $281.2 million (N44.99 billion) in the Niger Delta in 2012.

Energy giant Royal Dutch Shell on Thursday announced plunging quarterly profits, with outgoing chief executive Peter Voser blaming the “disappointing” results on a shale asset write-down and unrest in Nigeria.

Shell plans to sell at least four more oil blocks in Nigeria due to increasing crude theft, oil spills, community challenges and its inability to renew the licenses of some of the fields.

Nigeria’s power situation worsened, yesterday, as Shell Petroleum Development Company, SPDC, shut down its 624 Mega watts Afam VI power plant.