Shell’s payments to Nigeria up in 2017
Nigeria Payments, most of which were made to the National Nigerian Petroleum Corporation, totalled USD 4.32 billion, up from USD 3.64 billion in 2016.
The report also noted that theft of crude was on the rise. Shell Petroleum Development Company reported 9,000 bopd of theft, compared with 6,000 bopd in 2016. The company attributed the lower 2016 figure to the Forcados export terminal being shut down much of the year.
Currently the largest E&P company in Nigeria, Shell has been present in the country since 1937. Shell operates Shell Petroleum Development Company, a joint venture between Shell (30%), Nigerian National Petroleum Corporation (55%), Total E&P (10%) and Agip (10%).
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