Shell urges Nigerian government to push for higher OPEC quota

Shell Petroleum Development Co. (SPDC) has asked the Nigerian government to push for a higher oil production quota from the Organization of Petroleum Exporting Countries, OPEC News Agency reported.

By OGJ editors

HOUSTON, Nov. 25 -- Shell Petroleum Development Co. (SPDC) has asked the Nigerian government to push for a higher oil production quota from the Organization of Petroleum Exporting Countries, OPEC News Agency reported.

SPDC Managing Director Ron Van de Berg told the Nigerian House Committee on Petroleum that the current output quota of 1.757 million b/d for Nigeria was a disincentive to the country's joint venture partners.

John Hahme Agoda, committee chairman, pledged the readiness of the committee to move the oil industry forward.

Oil companies are working to expand Nigeria's oil production, Van de Berg said, adding that any output constraint could scare away many present and potential investors.

"We are still having to be restrained with production through OPEC. That is a very difficult issue that we have to come to terms with?. I think this is a real serious issue. If it is not properly resolved, investors will be very wary of investing in the sector," he warned.

Van de Berg forecast that the quota issue will be crucial for Nigeria in the next 6 mont

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