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7

Shell Suffers Production Losses Out Of Disorders

Four Shell oil workers in Nigeria were kidnapped, pipeline was exploded

Royal Dutch Shell has cut its Nigeria oil output by 106,000 barrels a day (10% )after a pipeline explosion and the kidnapping of four foreign oil workers.

The company's shares fell by 0.9%, or 16p, to 18.35 pounds in morning trading.

Kidnappings and pipeline explosions are common in the Niger Delta region, where local groups complain they do not see the benefits of the area's oil wealth.