April 5, 2007
Shell to resume full Nigeria output
Royal Dutch Shell says it should be able to resume full oil production from Nigeria within 5-6 months after coming to an agreement with the Niger Delta rebel group that has been sabotaging its operations for more than a year, the New York Times reports from Lagos. Adding 500,000 barrels of oil a day is good news for Shell as well as consumers, but it will mean the Opec oil cartel may have to compensate with further cuts to ensure prices stay around $60 a barrel. That is, of course, if Shell’s optimism is proved well placed in one of the most unpredictable countries in the world.
