Nigerian security worsened in 2012 –Shell

The Chief Executive Officer, Royal Dutch Shell Plc, Mr. Peter Voser, has said that security situation worsened in Nigeria in 2012.

Voser, in a speech posted on the company’s website on Sunday, said, “ the overall security situation in 2012 has worsened. The stealing and sabotage of crude oil  intensified. It’s a multi-billion-dollar business.

“ Shell alone cannot solve these issues. It needs to be a multi-stakeholder approach, as we have been saying for many, many years. SPDC is prepared to do their share, but it needs more than just Shell’s support in Nigeria. It needs concerted government action to reduce theft of crude.”

He added  there was some uncertainty in Nigeria ’s petroleum industry because of ongoing discussion about a new petroleum industry bill.

“That may change our views on investing in Nigeria, depending on how this is implemented. The current draft – which is still the subject of discussions and consultations – would make it highly unlikely that Shell – and the whole industry – could invest in offshore and domestic gas projects.

“This would be counterproductive to what Nigeria needs, which is gas for power generation and revenues to develop the nation.”

He, however, said that Nigeria had, from an oil and gas perspective, a lot of opportunities which  SPDC was part of.

Voser added,  “overall I am positive about the future of Shell’s continued investments in Nigeria.”  Voser said the company had significant public discussions around the country,  in the Netherlands and to a lesser extent in the United Kingdom.

PUNCH