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South African Court Blocks Oil Exploration By Shell
A court decision has annulled all rights given to Shell to explore oil and gas using seismic waves on the Indian ocean, off the coast of South Africa. The High Court in the Eastern Cape town of Makhanda backed a suit filed by conservationists and local groups who shared concerns on the environmental consequences of…
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Shell To Pay N45 Billion In Compensation To Ogoni Communities
British-Dutch multinational oil and gas company, Royal Dutch Shell plc, has resolved to pay N45 Billion in settlement to the Ogoni people: marking an end to the 31-year long battle between the parties. The agreement was reached at the order of a Federal High Court in Abuja on Wednesday. Justice Ahmed Mohammed held that the…
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Oil Demand Shows Signs Of Recovery As Nigerian Rig Counts Hit 12
Going by the increase in rig counts in May, the International Association of Drilling Contractors (IADC) in Nigeria have revealed the oil market demand may be showing signs of full recovery in no time. Chairman of IADC, Nigeria chapter, Chuks Enwereji, of Shelf Drilling Offshore Services, disclosed at the 2021 HSE Awards & Technical Session…
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Shell In Talks With FG To Divest Onshore Oil Operations
The CEO of Royal Dutch Shell, Ben van Beurden, has announced plans to sell off the company’s onshore stakes in Nigeria. The Anglo-Dutch oil exploration company which began operations in Nigeria as far back as 1936 have now sighted costly repair operations, sabotage, vandalism of pipelines and high profile, costly lawsuits as reasons for its…
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Shell Set To Invest In Renewable Energy
Oil giant Shell has said it wants to invest more in renewable energy in an attempt to reduce the net amount of carbon dioxide that ends up in the atmosphere and ultimately coping with the drop in oil prices. Last week, Shell reported a net loss of $21.7bn (£16bn) last year after a drop in demand…