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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Dutch Shell    RDSA   GB00B03MLX29

ROYAL DUTCH SHELL (RDSA)
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Royal Dutch Shell : Nigerias oil output drops by 150, 000 bpd under Shells force majeure

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05/22/2018 | 05:26pm CEST

NIGERIAs daily oil output has dropped by 150,000 barrels per day (bpd) as a result of the shutdown of Nembe Creek Trunk Line.

In its 2018 budget, the Federal Government had earlier projected to produce 2.3 million bpd at the reference price of $51 per barrel. But with this development the target would not likely be met.

Already, Shell Petroleum Development Company of Nigeria Limited has declared a force majeure to protect itself against any liability with international oil traders and other stakeholders over the supply gap.

But the development has not yet impacted on the market as Vanguards survey of the oil markets around the world showed that the price of Nigerias Bonny Light was still a little below $80 per barrel in the market yesterday.

The price of organisation of Petroleum Exporting countries, OPEC basket of 14 crudes stood at $76.75 a barrel, compared with $75.18 the previous day, according to OPEC Secretariat calculations.

Investigation showed that despite increased government romance with stakeholders in the Niger Delta, the region has continued to record pockets of pipeline vandalism, meaning that oil operations may still under threats of disruptions.

In its latest report released about two weeks ago, Shell stated that: Security remains a high priority due to continued crude oil theft and criminality in parts of the Niger Delta. Illegal refining and third-party interference are the main sources of pollution in the Niger Delta today.

Third party interference caused close to 90% of the number of spills of more than 100 kilograms from The Shell Petroleum Development Company of Nigeria Limited operated Joint Venture (SPDC JV) pipelines in 2017.

Security in parts of the Niger Delta remains a major concern with persisting incidents of criminality, kidnapping and vandalism as well as onshore and offshore piracy. Although there has been no damage to key oil and gas infrastructure caused by militant activity since November 2016, the security situation remains volatile in this region of the country.

(c) 2018 Bakhtar News Agency. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 350 B
EBIT 2018 34 989 M
Net income 2018 21 966 M
Debt 2018 58 843 M
Yield 2018 4,99%
P/E ratio 2018 14,28
P/E ratio 2019 12,81
EV / Sales 2018 1,05x
EV / Sales 2019 1,00x
Capitalization 310 B
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Royal Dutch Shell Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Technical analysis trends ROYAL DUTCH SHELL
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 36,9 $
Spread / Average Target -0,15%
EPS Revisions
Managers
NameTitle
Bernardus Cornelis Adriana Margriet van Beurden Chief Executive Officer & Executive Director
Charles Otis Holliday Chairman
Jessica Rodgers Uhl Chief Financial Officer & Director
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Director
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DUTCH SHELL12.83%309 743
PETROCHINA COMPANY5.32%233 708
TOTAL18.36%170 544
PETROLEO BRASILEIRO SA PETROBRAS55.59%100 161
EQUINOR26.26%91 035
ENI16.12%70 858