In response to a Supreme Court suit over oil leak appeal filed by a community in Bayelsa State, Shell PLC announced that it has suspended its plans to sell its onshore oil assets in Nigeria.
In response to a Supreme Court suit over oil leak appeal filed by a community in Bayelsa State, Shell PLC announced that it has suspended its plans to sell its onshore oil assets in Nigeria. The company had announced
its plans of divestment in May 2021.
The local governments in Aghoro , Ekeremor in Bayelsa area filed suit over the May 17, 2018 oil leak from the oil firm’s Trans Ramos Pipeline.
The Supreme Court’s on June 16 to maintain the status quo until October, will stop Shell from selling its assets in Nigeria. A lower court decision has awarded the Niger Delta community N700 billion in compensation over the spill.
The company in a statement by Chairman of Companies and Managing Director of SPDC, Osagie Okunbor, said it will not progress the divestment of its interest in SPDC until the outcome of SPDC’s appeal.
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