Oil, Gas and Consumable Fuels
Company Overview of The Shell Petroleum Development Company of Nigeria Limited
The Shell Petroleum Development Company of Nigeria Limited produces and supplies gas to domestic customers through pipelines. The company was founded in 1937 and is based in Lagos, Nigeria. The Shell Petroleum Development Company of Nigeria Limited operates as a subsidiary of Royal Dutch Shell plc.
Founded in 1937
Key Executives for The Shell Petroleum Development Company of Nigeria Limited
Compensation as of Fiscal Year 2015.
The Shell Petroleum Development Company of Nigeria Limited Key Developments
Supreme Court Finds Shell Petroleum Development Company of Nigeria Limited Liable for Oil Spills
Jun 6 15
The Supreme Court has ordered Shell Petroleum Development Company of Nigeria Limited to pay four communities in Delta State NGN 30,288,681 compensation earlier awarded against it in 1997 by the then Bendel State High Court for damages caused by oil spills linked to the company. The communities - Obotobo, Sokebolo, Ofogbene (Ezon Burutu) and Ekeremor Zion (Ezon Ase) - had sued Shell separately in 1983 at the Bendel State High Court for compensation for series of oil spills recorded in the communities around that period. The court consolidated the four cases in 2005. The trial court, in a judgment delivered on May 27, 1997, held in favour of the plaintiffs and in granting damages, awarded NGN 4,095,085 to Obotobo; NGN 13,278,306 to Sokebolo; NGN 7,392,589 to Ofogbene (Ezon Burutu) and NGN 5,522,701. Shell appealed the judgment at the Court of Appeal, Benin, an appeal the court dismissed on May 2000 for lacking in merit. Its appeal to the Supreme Court was again dismissed. In a unanimous judgment by a panel of five justices, the Supreme Court upheld the concurrent decisions of the trial and lower court and awarded NGN 50,000 cost against Shell and in favor of each of the communities. On the objection to the award of damages against it, the Supreme Court upheld the conclusion of the Court of Appeal to the effect that the "direct compelling and largely un-contradicted evidence available to the learned trial judge. The apex court added that the respondents' right to fishing in the creeks was affected and the payment of compensation was made to each of the various communities for loss of income suffered by the community members, who have a right to fish in the creeks located in the community to the exclusion of other members, who are not members of the particular community.
SHELL Petroleum Development Company of Nigeria Ltd, Total E & P Nigeria Ltd and Nigeria Agip Oil Company Ltd Seek to Stay Further Proceedings in a Suit
Feb 17 15
SHELL Petroleum Development Company of Nigeria (SPDC) Ltd, Total E & P Nigeria Ltd. (TE&P) and Nigeria Agip Oil Company Ltd. (NAOC) have filed an application seeking to stay further proceedings in the suit filed to halt them from transferring their 45% participating interests in Oil Minning Lease (OML) 25 at the Federal High Court, Lagos. The matter is before Justice Mohammed Idris. The Judge had earlier made an order after hearing ex-parte application and arguments presented by Tayo Oyetibo, SAN, counsel to the applicant, Crestar Integrated Natural Resources Limited (CINRL), retraining Shell and others from divesting their interest in OML 25 pending the determination of the suit. But the defendants said they seek to stay further proceedings pending outcome of arbitration, which is the clause in the agreement between Crestar and the defendants for the assignment of OML25 to Crestar. Their motion also seeks to discharge the order of interim injunction previously made by Justice Idris. When the matter came up, the applicant's motion on notice for interlocutory injunction could not be taken as a result of the defendant's application and the need for the applicant to respond to it. Consequently, the matter was adjourned to February 23 and 24 for hearing. The applicant had approached the court to complain against the defendants - SPDC, TE&P and NAOC attempt to divest their interest in OML 25 to other firms contrary to the agreement they had with the applicant to transfer the interest to it. As a result, the judge made an order, restraining the defendants from proceeding or continuing to negotiate or engage in any transaction or contract calculated or purported to transer, sell, farm out or otherwise charge, encumber, dealing, dispose of or divest the defendants/respondents 45% participating interest in Oil Minning Lease (OML) No. 25 to any person, authority or agency pending the determination of the motion on notice. The court also made an order restraining the defendants, from declaring any other bidder apart from the applicant as the preferred bidder for the assignment of the defendants 45% undivided participating interest in OML 25 pending the determination of the motion on notice. The applicant had alleged that it had paid $453,320,000 to an escrow account with JP Morgan in London, which was nominated by the defendants, consequent upon which a sale and purchase agreement (SPA) was executed by Crestar and the defendants. Crestar further alleged that under the Joint Operating Agreement (JOA) by which the defendants and NNPC were operating the OML 25, NNPC had 30 days, from the date it was notified of the intention of the defendants to assign their interests to Crestar, within which to exercise its pre- emption rights. The defendants' notice to NNPC was alleged to have been dated July 3, 2014 and promptly delivered to NNPC which responded by a letter dated October 27, 2014 to exercise its pre-emption rights to buy the defendants' interests in the OML 25.
Shell Petroleum Development Company Signs Memorandum of Understanding with General Electric for Comprehensive Healthcare Project in Ogbia
Feb 14 15
Shell Petroleum Development Company (SPDC) has signed a Memorandum of Understanding (MoU) with General Electric (GE) for a comprehensive healthcare project in Ogbia local council area, Oloibiri and its neighbouring communities, where crude oil was first discovered in the country. Promoters of the project said that the aim is to institute fully equipped general hospital and at least four primary healthcare centres in the historic Olobiri and the neighjbouring beneficiary communities. The initiative would provide Universal Health Coverage and Health System for the people of Ogbia local council.
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