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The subsidiaries affected by the injunction granted on January 25, 2021, are Royal Dutch Shell; Shell Western Supply and Trading; Shell International Trading and Shipping Company; and Shell Nigeria Exploration and Production Company.
The
injunction was granted to recover the cash value of 16 million barrels of crude oil allegedly diverted from AITEO Eastern E & P Company Limited.
AITEO and some other indigenous oil producers including Belemaoil, Eroton and Newcross had raised a dispute with Shell over allegations of the unapproved methodology used in calculating the volume of crude it lifts on their behalf from the terminal.
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The companies argued that Shell deploys underhand practices including using unapproved meters to facilitate crude theft.
Alleged Oil Diversion: Nigerian court declines to unfreeze Shell s bank accounts premiumtimesng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from premiumtimesng.com Daily Mail and Mail on Sunday newspapers.
A Federal High Court sitting in Lagos has refused to discharge an interim order it granted, freezing the bank accounts of Shell Petroleum Development Company of Nigeria (SPDC) and that of its subsidiaries.
In her ruling on the case on Tuesday, Justice Oluremi Oguntoyinbo summoned the secretaries and chief financial officers of two banks who allegedly disobeyed the interim ex-parte order directing the freezing of the accounts.
The affected banks and their officials are Citi Bank Ltd., its Company Secretary, Sola Fagbure, and Chief Financial Officer, Sharaf Mohammed, as well as United Bank For Africa (UBA) Plc, its Company Secretary, Bill Andrew Odum, and Chief Financial Officer, Ebenezer Kolawole.
Nigeria: Shell invests to support Nigeria’s domestic gas ambition for industrialization
02 Mar 2021
The
Shell Petroleum Development Company of Nigeria Limited (SPDC), has restated commitment to support the Federal Government of Nigeria’s goal of using the country’s proven gas reserves to trigger economic activities for gas-based industrialization.
SPDC’s Managing Director and Country Chairman of Shell Companies in Nigeria, Mr. Osagie Okunbor, said Shell’s support is shown in the company’s multi-billion dollars investment in four of Nigerian National Petroleum Corporation’s (NNPC) ‘Seven Critical Gas Development Projects’.
Speaking at the Nigerian Gas Association’s 12th International Conference and Awards, held virtually on February 25, 2021, under the theme,
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The Shell Petroleum Development Company of Nigeria Limited has keyed into the Federal Government’s goal of using the country’s proven gas reserves to increase economic activities for gas-based industrialisation of the country.
SPDC’s Managing Director and Country Chairman of Shell Companies in Nigeria, Osagie Okunbor, said this while speaking at the Nigerian Gas Association’s 12th International Conference and Awards, which was held virtually on February 25 under the theme, “Powering Forward: Enabling Nigeria’s Industrialisation via Gas.”
A statement on Sunday by the Media Relations Manager, SPDC, Bamidele Odugbesan, quoted Okunbor as saying that Shell’s support was demonstrated in the oil firm’s multi-billion dollar investment in four of Nigerian National Petroleum Corporation’s ‘Seven Critical Gas Development Projects.’