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Shell Says Nigeria Can Be A Major Oil Producer

Posted: Feb 21, 2012 7:38 AM

LAGOS, Nigeria - A top Royal Dutch Shell PLC official in Africa says Nigeria could produce as much as 4 million barrels of oil a day, but government problems and theft of crude from pipelines remain rampant.

Ian Craig, an executive vice president at Shell, said Tuesday that oil thieves steal roughly 150,000 barrels of crude a day from pipelines in Nigeria's oil-rich Niger Delta.

Craig also said the government through the state-run Nigerian National Petroleum Corp. provides "chronic underfunding" of projects. The company partners with all foreign firms producing oil in the country.

Craig made the comments in a speech Tuesday at an oil and gas conference in Abuja. Shell provided his remarks to The Associated Press.

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