Nigerian fishermen reject Shell’s US$50m

By on July 1, 2014 in Oil & Gas, Politics with 0 Comments
Lagos – Lawyers say thousands of Nigerian fishermen have rejected an offer of $50 million (about R530 000 million) from Royal Dutch Shell for “some of the largest oil spills in history.”
The offer comes as a British court Friday ruled the oil company can be legally liable for oil thefts if it fails to protect its pipeline infrastructure. Until now, Shell has paid compensation only for spills caused by equipment failure.
About $35 million worth of oil is stolen daily in Nigeria.
Shell countered the judgment was favorable in limiting litigation to “an assessment of actual damages sustained” in spills, and said the judge ruled the company’s arguments “correct in all the crucial points.”
Leigh Day lawyers for 15 000 fishermen who lost their livelihoods in oil spills in 2008 and 2009 called Shell’s offer laughable.

Source: Sapa-AP

About the Author

About the Author: Eugene Obiero is the founder of The Africa Resources Post and its predecessor The East African Energy Blog. Eugene has been writing and blogging on energy and extractives in Africa since June 2012. He is based in Nairobi, Kenya and works for Camco Clean Energy (http://www.camcocleanenergy.com/ ) as Senior Manager Africa Projects. He specializes in market entry strategy, research, financial advisory and project management. Eugene has an MBA from The Warwick Business School, University of Warwick (UK). The posts on this blogsite are Eugene's and do not necessary reflect the thinking of his employer, Camco Clean Energy. .

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