allAfrica.com: Nigeria: Slippery Justice for Victims of Oil Spills (Page 1 of 3) - 0 views
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In a stunning and dramatic legal ruling that echoed from the serene court chambers in the Netherlands to the heart of rural Niger Delta in Nigeria, the District Court of The Hague dismissed all but one of the lawsuits brought against Royal Dutch Shell, an Anglo-Dutch oil and gas company, by a group of farmers seeking compensation for the environmental damage caused by the company.
Oil spill: Shell Ordered To Pay N15.4 billion -Vanguard - 0 views
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A FEDERAL High Court, yesterday, awarded N15.4billion as special and punitive damages against Shell Petroleum Development Company of Nigeria Limited, SPDC, in favour of Ejama-Ebubu community in Tai Eleme Local Government Area of Rivers State for an oil spill that occurred in 1970.
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Justice Buba in his judgment said: “This is a 2001 matter that has a chequered history. The plaintiffs by their paragraph 32 of the amended statement of claims, jointly and severally claimed against the defendants, special damages of N1.772billion, allowing for interest for delayed payment for five years from 1996 at a modest mean Central Bank of Nigeria deregulated rate for that volume at 25 per cent per annum, totaling N5.4billion.
Pambazuka - Oil-dependency and food: Livelihoods at risk - 0 views
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Without diminishing the severity of the Gulf spill, several observers have pointed out the asymmetrical political reactions to oil disasters in the US and in other parts of the world.[6] Nnimo Bassey, Nigerian head of Friends of the Earth International, explains the sense of frustration: ‘We see frantic efforts being made to stop the spill in the US, but in Nigeria, oil companies largely ignore their spills, cover them up and destroy people's livelihood and environments…This has gone on for 50 years in Nigeria. People depend completely on the environment for their drinking water and farming and fishing. They are amazed that the president of the US can be making speeches daily, because in Nigeria people there would not hear a whimper.’[7]
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Presumably, companies are not only put off by the prospect of increased red tape in the US, but also attracted – as they have been for decades – by the limited capacity of African States to regulate extractive activities. To attract foreign investment, most countries in sub-Saharan Africa also enter into generous production-sharing agreements that allow foreign oil companies to turn a relatively small upfront investment in exploration into billions in downstream profits.[11]
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Even after the Deepwater Horizon explosion, the company has moved full-steam ahead with plans to sell off US$30 billion in onshore and shallow-water production assets in order to aggressively pursue deepwater drilling in West Africa, Angola, Egypt and, yes, Louisiana.[17]
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Legal Oil - 0 views
» Of Nigeria's oil money and misapplication - Vanguard (Nigeria) - 0 views
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From $30 billion, the fund had trickled down to about $450 million by mid-2010, according to Veronica Kalema of Fitch Ratings, which late last year downgraded Nigeria’s outlook from “stable” to “negative” partly because of the vast and largely unaccounted outflow from the Excess Crude Account.
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Some of the vast pile of cash, perhaps $5 billion to $8 billion, has been spent on so-far unfruitful efforts to upgrade Nigeria’s feeble power output, which remains no better than that of a mid-size American city for a nation of over 150 million people, Africa’s most populous. But the rest, some $22 billion or more, remains largely unaccounted for.
Shell Accused Over Misleading Figures on Nigeria Oil Spills | Human Rights Now - Amnest... - 0 views
West Africa Rising: Will a sovereign wealth fund really help reverse Nigeria's 'oil cur... - 0 views
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On Dec. 1 last year, Nigeria’s cabinet approved the creation of a sovereign wealth fund that would invest any excess revenues generated from the sale of the country’s oil, which it exports at a rate of roughly two million barrels per day.
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This isn’t the first time that the country has made such an effort. In 2003, under pressure from the International Monetary Fund, Nigeria set up the Excess Crude Oil Account, or ECA, to serve a similar purpose.
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If Nigeria’s new fund succeeds in delivering tangible infrastructure improvements and other development outcomes from its oil profits, the country could become a role model for other poverty-stricken but resource-rich countries in West Africa.Ghana just began pumping oil in December, and significant reserves have recently been found off the coasts of Liberia and Sierra Leone. No doubt those countries will look to their larger neighbor to the east, the region’s economic heavyweight, in deciding how to manage their own oil revenues.
» Understanding the political economy and rising oil prices - Vanguard (Nigeria) - 0 views
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Nigeria is strategic to the global energy need, it is also crucial to the maintenance of security of the Gulf of Guinea region; the fear of the magnitude of the crisis and insecurity in that region forced the US to create the African Command.
Nigeria Resumes Oil Savings, Pledges Greater Transparency - Businessweek - 0 views
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Nigerian lawmakers are currently working on a sovereign wealth fund that will save some of the windfall crude revenue for future generations and invest some in infrastructure, ensuring that the government can’t use it to finance running costs.
Shell decries misrepresentation of divestment in Nigeria - 0 views
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According him, what Shell is doing, is merely restructuring its port folio by divesting from small oil fields, which he noted was not a strange practice globally,
Shell loses Nigeria Bonny Terminal land dispute - Royal Dutch Shell plc .com - 0 views
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The oil giant Shell has lost its appeal against a ruling that it is not the rightful owner of land where it runs Nigeria’s biggest oil export terminal.
Shell embedded spies in host governments of Nigeria, Dubai and Iraq - Royal Dutch Shell... - 0 views
Nigeria: Whistleblower Accuses Shell of Concealing Data On Nigerian Oil Spills - allAfr... - 0 views
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But a Shell Nigeria spokesman, Mr. Precious Okolobo, said the company accepted responsibility for the two deeply regrettable operational spills in Bodo and was fully committed to ensuring clean-up but that since 2015, the Bodo community of Rivers State has failed to permit access by contractors appointed to carry out the clean-up.
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Chairperson of BMI, Inemo Samiama, to whom Holtzman addressed the letter, said in a statement that BMI had carried out Shoreline Clean-up Assessment Technique (SCAT) as recommended by the UNEP representative in the BMI, Dr. David Little, so as to form judgments on the best remedial methods applicable to each grid at individual sites. According to Samiama, the results of the pre-SCAT and main SCAT as issued by the SCAT team leader, Dr. Erich Gundlach, had confirmed areas of pollution and the need for clean-up but the results did not raise new concerns because they were not different from existing observations from earlier reports.
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Shell had accepted liability for the 2008 and 2009 oil spills, and in 2015, agreed to pay £55m to the Bodo community for losses caused by the spills. UNEP had in 2011 published a damning report anticipating that it would take up to 30 years to clean the Niger Delta from oil spills, caused by theft and operational failures.
Obodo 9ja: Response to Achebe 'The genocidal Biafran war still haunts Nigeria' - 0 views
allAfrica.com: Nigeria: Alison-Madueke, Shell Fingered in Shady U.S.$380 Billion OML Deal - 0 views
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Nigeria's petroleum minister, Diezani Alison-Madueke oil giant, Shell Petroleum Development Company Ltd (SPDC) have been fingered in the shady sale of four oil blocks worth $380 billion (N58.9trillion), a petition to the Speaker, House of Representatives, Aminu Waziri Tambuwal disclosed, yesterday. The petition also alleged that two days before President Goodluck Jonathan dissolved the Federal Executive Council in 2011, officials of Shell and Alison-Madueke secretly transferred production rights in four large oil blocks, Oil Mining Licences (OMLs) 26, 30, 34 and 42, to Mr. Jide Omokore's Atlantic Energy Drilling Concept Limited, a company that neither tendered nor bidded for the blocks.
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The protesters lamented what they described as a deliberate exclusion of indigenous rights of first refusal and the absence of transparent and open competitive bidding of Oil Mining Licences (OMLs) 26, 30, 34 and 42 respectively.
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