Nigeria: Oil theft costs Shell nearly $1 billionReprints
Royal Dutch Shell P.L.C. said theft and other disruptions to its Nigerian oil and liquefied natural gas operations in 2013 cost the company nearly $1 billion, Reuters reported.
Shell said in a report that some risks associated with operating in Nigeria had worsened.
Simon Henry, Shell's chief financial officer, said "the country's 4 million barrel-a-day target has effectively become actual production of less than 2 (million bpd)."