Shell Will Be Biggest Oil Producer In UK
Shell is about to become the UK’s largest oil producer after it invested $40bn in projects in Qatar and Brazil, reports The Daily Telegraph. Royal Dutch Shell will overtake BP which is currently the biggest oil producer in the UK.
The projects will mean Shell’s daily output will rise by about 1m barrels a day to 4.25m barrels by the end of 2012. BP predicts that by the same point in 2012 they will be producing 4.1m barrels.
Shell’s other investments this year include oil-sands ventures in Canada and Sakhalin II in Russia.
Shell has suffered production problems after militant groups attacked operations in Nigeria.
Source: The Daily Telegraph (Saturday 26th Sept 2009)