Following increasing reports to the effect that the Shell Petroleum Development Company (SPDC) plans to divest its assets in Nigeria, the Federal government has started talks with Shell premised on negotiations.
The assets Shell reportedly plan to divest include joint venture licenses and interests in 19 Oil Mining Leases (OML).
The Minister of State for Petroleum Resources, Chief Timipre Sylvia who spoke on the matter says the Federal government wants Shell to continue its onshore oil and gas business in Nigeria.
He also revealed that the federal government is currently holding high-level talks with the Royal Dutch Shell Plc.
The New Diplomat‘s checks indicate that disputes and disagreements between the multinational oil giant (shell) and host communities in the Niger Delta region may be among the reasons why the company is weighing options of divesting its interest in Nigeria.
Recall The New Diplomat had recently reported that the Ogoni people of Rivers state have a reason to smile after receiving justice as the Multinational oil firm, Shell Petroleum Company agreed to pay compensation arising from protracted and prolonged years of environmental degradation and despoilation.
The company had agreed to pay N45.9 billion compensation to the Ogonis for the losses incurred during the oil spillage that destroyed their towns and means of livelihood.
The monetary compensation is coming ten years after the judgment was delivered by the Lagos division of the Federal High court on June 14, 2010, following a suit filed by the Ogoni people.
However, the final decision to pay up the money was endorsed by Justice Ahmed Ramat Mohammed of the Federal High Court, Abuja, Wednesday.
Shell Petroleum Company had agreed to pay the money through its lawyer, Chief A. O Ejelamo, a Senior Advocate of Nigeria of the high court.
Eventually, it was agreed that the funds would be handed to the aggrieved persons through their designated lawyer.
The Ogonis were said to have waived the interest on the principal amount as concession agreed upon during reconciliation.
