Nigerian youths shut down crude oil production at two flow stations of the OML 29 (oil mining licence) oil block near Nembe in Bayelsa state at around 10 a.m. (0900 GMT) on Friday.

The protesters, who oppose the sale of the block, arrived in about 30 speedboats and climbed the fence at one facility with no resistance and dodged security at the other. It was not yet clear how much production was shut in.

Royal Dutch Shell Plc sold its stake in OML 29 and the accompanying Nembe Creek trunkline in late March to Aiteo Eastern E&P Co for about $1.7 billion.

French oil major Total SA and Italy’s Eni SpA also agreed to sell their minority stakes in both assets, giving Aiteo a 45 percent stake.

A spokesman for Shell said he could not immediately comment and Aiteo could not immediately be reached.

A Reuters reporter saw protesters holding up placards reading “Sale of our wealth by Shell is theft against mankind”, “We are angry” and “Nembe people reject sale of oil field”.

Source: Reuters