Owing to inefficiencies, funding constraints and shut-in of oil wells due to crisis in the Niger Delta, approximately 430 million barrels of crude oil have been lost by Nigeria in the NNPC, Shell Joint Venture deal.

Shell’s African Executive Vice President, Ms. Ann Pickard, said:

The inefficiencies in the sector that are blocking Nigeria from delivering more projects and more production include the chronic lack of security in the Niger Delta and the lack of funding for joint-venture projects. Together, these problems have taken a heavy toll on the industry.

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