Watching the World: More ounces of prevention

10/10/2005
Ian McCredie, head of global security services at Shell International, recently said growing risks have forced Royal Dutch Shell PLC to make its own security arrangements in areas where local security forces are largely ineffective.“Globally, things don’t look too bad, but there are areas that are coming unstuck through no fault of our own,” McCredie told a London conference last week.In particular, he named Nigeria, where separatist rebels have kidnapped 50-70 Shell employees over the past year and diverted an estimated $1 billion/year of oil revenue to the insurgents or corrupt officials.He could as easily have spoken of Thailand, where a growing problem of Islamic mil...
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