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The Shell Petroleum Development Company of Nigeria Limited and the Environmental Rights Action/ Friends of the Earth Nigeria have disagreed over Friday’s judgment of the Dutch court which asked Shell to pay compensation to farmers in Goi, Oruma, and Ikot Ada Udo communities in Rivers, Bayelsa and Akwa Ibom states as a result of oil spills and pollution.
While Shell expressed disappointment over the court’s ruling, the ERA/FoEN applauded the decision in their separate reactions.
The Media Relations Manager of SPDC, Bamidele Odugbesan, in a statement, contended that the oil spills at Goi and Oruma were caused by sabotage, stressing that most leaks from the company’s operations were perpetrated by vandals in the Niger Delta.
Niger Delta oil spills: Dutch court rules Shell Nigeria responsible three.fm - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from three.fm Daily Mail and Mail on Sunday newspapers.
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Existing Production Capacity of 27,000 barrels of oil equivalent per day Estimated 2P Reserves of 1.2 billion barrels of oil equivalent
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Lagos, Nigeria, January 15, 2021
– Heirs Holdings (“HH”), the leading African strategic investor, in partnership with affiliated company Transnational Corporation of Nigeria Plc (“Transcorp”), Nigeria’s largest publicly listed conglomerate, announced today the unconditional acquisition of a 45% participating interest in Nigerian oil licence OML 17 and related assets, through TNOG Oil and Gas Limited (a related company of Heirs Holdings and Transcorp), from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI. In addition, TNOG Oil and Gas Limited will have sole operatorship of the asset.
By Obinna Chima
The Managing Director of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane has said Heirs Holdingsâ (HH) $1.1 billion investment in the acquisition of the strategic OML 17 from Shell, ENI and Total, will lead to job creation, transfer of technology and improved management skills.
Rewane, who said this during a chat on BBCâs âNEWSDAY,â noted that the investment serves the objective of economic patriotism.
âFirst and foremost the profit is retained by Nigerians, so that helps. Everywhere across the world, sovereign nations and host communities are trying to have a skin in the game, rather than having the structure where the multinationals come in and get all the revenues out.
Elumelu assures of shared prosperity, economic devt, acquires 45% in OML 17 guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.