The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Nigeria LNG exports blocked for sixth day over tax dispute

Thu, 27th Jun 2013 13:27

* Shell, Total, Eni own stake in Nigeria LNG

* NLNG says it is exempt from shipping levies

* Nigeria accounts for 7 pct of global LNG supply

By Joe Brock

ABUJA, June 27 (Reuters) - Nigeria's liquefied natural gas(LNG) exports have been blocked for a sixth day by the maritimesecurity agency due to a dispute over shipping levies, the stateLNG firm said on Thursday.

Nigeria ships around 330 cargoes a year, providing about 7percent of global LNG supply and accounting for 4 percent of GDPin Africa's second largest economy, state-LNG company NLNG says.

Since June 21, the Nigerian Maritime Administration andSafety Agency (NIMASA) has barred LNG cargoes from entering orleaving the loading bay because it says NLNG is not paying alevy of three percent on product value.

"If they want us to pay a levy it needs to be passed intolaw by government. We abide by the law," Nigeria LNG spokesmanKudo Eresia-Eke said.

"Under the Nigeria LNG act we are exempt from shippinglevies," Eresia-Eke said, adding he did not know when exportswould resume or how many cargoes had been delayed.

NIMASA did not immediately respond to a request for comment.

The security agency blocked exports on May 3 before NLNGagreed to pay it $20 million to resume flows while it went tocourt to dispute the blockade, NLNG said.

NLNG says a court order was issued on June 18 preventingNIMASA from blockading the port until a resolution was found.

The Nigerian National Petroleum Corporation owns 49 percentof NLNG with Shell holding 25.6 percent, Total 15 percent and Eni 10.4 percent.

Buyers of Nigeria's LNG include Spain's Repsol,Italy's Enel, Britain's BG Group France's GDFSuez and Portugal's Galp.

More News
17 Nov 2021 14:52

EXECUTIVE CHANGES: Deliveroo adds Flutter CEO to board; new Quarto CEO

EXECUTIVE CHANGES: Deliveroo adds Flutter CEO to board; new Quarto CEO

Read more
17 Nov 2021 10:07

UPDATE 1-LNG industry launches 'carbon neutral’ framework

(Adds context, rics to wider audience)By Susanna Twidale and Marwa RashadLONDON, Nov 17 (Reuters) - An international liquefied natural gas (LNG) body on Wednesday launched a framework for rules to declare cargoes carbon neutral as it seeks to make ...

Read more
17 Nov 2021 08:01

Russia's Rosneft acquires Shell's 37.5% stake in German refinery PCK Schwedt

MOSCOW, Nov 17 (Reuters) - Russian oil giant Rosneft has acquired Shell's 37.5% stake in German refinery PCK Schwedt, it said on Wednesday, exercising an option to buy and taking its shareholding to 91.67%.Italy's Eni holds a 8.33% stake in the re...

Read more
15 Nov 2021 18:56

North American natgas traders form company to better process trades

Nov 15 (Reuters) - A group of North American natural gas trading firms said on Monday they formed a new company called Eleox to manage post-trade processes more efficiently.The firms include units of BP PLC, Castleton Commodities International LLC...

Read more
15 Nov 2021 18:22

North Sea Crude-Forties steady, Brent diff edges lower

LONDON, Nov 15 (Reuters) - The North Sea Forties crude differential held steady on Monday while Brent slipped after two deals.* Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the ...

Read more
15 Nov 2021 17:10

LONDON MARKET CLOSE: Miners weigh on FTSE 100; Shell simplifies

LONDON MARKET CLOSE: Miners weigh on FTSE 100; Shell simplifies

Read more
15 Nov 2021 13:41

Shell shake-up leaves Dutch royally hacked off

By Toby SterlingAMSTERDAM, Nov 15 (Reuters) - Royal Dutch Shell's decision https://www.reuters.com/world/uk/shell-proposes-single-share-structure-tax-residence-uk-2021-11-15 to move its corporate headquarters and tax base to London may win over sha...

Read more
15 Nov 2021 12:37

GLOBAL MARKETS-Upbeat China data bolsters sentiment, oil tumbles

* China data lifts sentiment, boosts Aussie dollar* Sentiment in Europe tempered by rising COVID infections* Oil prices down more than 1%* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn* Graphic: World FX rates http://tmsnrt.rs/2egbfVh (...

Read more
15 Nov 2021 12:16

Shell to move head office to the UK, drop dual share structure

(Sharecast News) - Royal Dutch Shell is to overhaul its complex corporate structure, including shifting its headquarters to the UK and changing its name.

Read more
15 Nov 2021 12:04

LONDON MARKET MIDDAY: Caution sets in ahead of UK inflation, jobs data

LONDON MARKET MIDDAY: Caution sets in ahead of UK inflation, jobs data

Read more
15 Nov 2021 11:05

TOP NEWS SUMMARY: Shell simplifies; BBVA and Heineken buy

TOP NEWS SUMMARY: Shell simplifies; BBVA and Heineken buy

Read more
15 Nov 2021 10:43

UPDATE 2-European stocks clock fresh record highs; miners slide

* STOXX 600, DAX, CAC 40 hit record highs* Airbus boosts French stocks* BBVA drags down Spanish benchmark index (Adds comments, updates prices throughout)By Anisha Sircar and Shreyashi SanyalNov 15 (Reuters) - European shares hit another record peak...

Read more
15 Nov 2021 10:07

UPDATE 2-Cineworld, CMC markets help UK midcaps outperform bluechip FTSE 100

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Shell climbs on plans for single-share structure* CMC soars on plans to split into two* Cineworld jumps on box office revenue recovery* FTS...

Read more
15 Nov 2021 09:37

UPDATE 1-Dutch government 'unpleasantly surprised' by Shell HQ move to Britain

(Updates with details of Dutch tax issues)AMSTERDAM, Nov 15 (Reuters) - The Dutch government said on Monday it was "unpleasantly surprised" by news that Royal Dutch Shell PLC is planning to move its headquarters to London from The Hague."The Cabin...

Read more
15 Nov 2021 09:01

Key takeaways from the Shell restructuring plan

Nov 15 (Reuters) - Royal Dutch Shell will simplify its business by scrapping its dual share structure and change its name to Shell Plc, the company said on Monday, also shifting its tax residence to Britain from the Netherlands.** Shareholders wil...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.