Nigeria: Shell production at 5-year high

Shell’s oil production in Nigeria hits five-year high

’Femi Asu

Global oil and gas giant, Royal Dutch Shell, has said its total production in Nigeria increased in 2019 to 176,000 barrels of oil equivalent per day, the highest level in five years.

Shell, which announced its fourth quarter 2019 results on Thursday, said its profit fell by 23 per cent to $16.5bn last year, hit by sliding oil and gas markets. The global firm’s profit jumped 36 per cent to $21.4bn in 2018 from $16.18bn in 2017.

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Source: https://punchng.com

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