Shell's Exit Plans Not Sitting Well With Nigeria Govt

The government is encouraging Royal Dutch Shell Plc to keep its onshore oil and gas business in Nigeria, instead of divesting it, as the company seeks to focus more on cleaner energy and offshore production. The oil giant has been at the receiving end of several law suits brought by inhabitants of oil rich areas, including the Niger Delta, where oil spills has led to loss of livelihoods over the years. Shell has denied negligence on their part, accusing inhabitants of sabotaging pipelines running through villages. The operator of Nigeria's onshore oil and gas joint venture (JV) SPDC, recently indicated it would no longer continue to be exposed to the risk of theft and sabotage.The Anglo-Dutch energy giant, operational in Nigeria since 1936, has been gradually selling its onshore assets for over a decade in Nigeria. Shell is also one of the oil giants implicated in the Malabu oil bloc scandal, which allegedly saw huge bribes being paid to government officials for the rights to explore for oil. The oil giant was later let off the hook by an Italian court for their involvement in the U.S.$1.1 billion corruption case.

 

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