Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksShell Share News (SHEL)

Share Price Information for Shell (SHEL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,752.50
Bid: 2,752.50
Ask: 2,753.00
Change: 4.50 (0.16%)
Spread: 0.50 (0.018%)
Open: 2,750.00
High: 2,757.00
Low: 2,746.50
Prev. Close: 2,748.00
SHEL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Shell in Nigeria

Tue, 16th Jan 2024 13:13

LONDON, Jan 16 (Reuters) - Shell pioneered Nigeria's oil and gas industry and remains a major investor in the West African country even after exiting its onshore operations. But over the decades the British company has come under fire over spills in the Delta region and struggles with oil theft, corruption and oil-fuelled violence.

Following are some of the highlights of Shell's history in Nigeria:

1936 - The Royal Dutch Shell Group establishes a Nigerian venture with the precursor company of BP Plc. The first shipment of oil from Nigeria takes place in 1958.

April 1973 - Nigerian government takes a stake in the venture. Over the coming years, the government increases its stake and BP exits.

1979 - The Shell Petroleum Development Company of Nigeria (SPDC) is established, incorporating assets of the older Shell-BP consortium. Over time, the Nigerian National Petroleum Corporation comes to own 55%, Shell owns 30%, France's Total owns 10% and Italy's Eni 5%.

1990 - The Movement for the Survival of the Ogoni People (MOSOP), led by firebrand environmental rights activist Ken Saro-Wiwa, starts campaigning for a fairer share of oil wealth for the Ogoni people living on oil fields and compensation for environmental damage.

January 1993 - MOSOP organises protests of around 300,000 Ogoni people against Shell and oil pollution. Nigeria's military government occupies the region.

April 1993 - Shell forms Shell Nigeria Exploration and Production Company Limited (SNEPCo), which signs Production Sharing Contracts to develop offshore oil and gas interests.

1993 - Shell ceases production in Ogoniland.

November 1995 - Saro-Wiwa and eight other MOSOP leaders are executed by Sani Abacha's military government on alleged murder charges, to worldwide horror. Nigeria is suspended from the Commonwealth.

Late 1990s - Over time, Shell's focus shifts to offshore exploration, where it enjoys better margins and fewer threats of attack by militants.

March 2001 - Shell signs an agreement to acquire a 40% stake in oil production licence (OPL) 245, a large offshore field, from local company Malabu.

October 2003 - SPDC pumps more than 1 million barrels of oil per day.

2005 - Shell starts production at the giant Bonga offshore field.

2006 - Militant group MEND (Movement for the Emancipation of the Niger Delta) emerges and begins to attack Shell facilities. Like MOSOP, it seeks a great share of oil wealth for the Delta's people and remediation for oil spills. SPDC pump stations and platforms in Niger Delta are attacked and production falls.

2008 - Two large spills, a result of operational faults, hit the community of Bodo in Ogoniland in the Niger Delta. Tens of thousands of barrels of oil are spilt.

January 2010 - SPDC sells some onshore fields and says it is no longer looking to Nigeria for growth.

April 2011 - Shell and Italy's Eni acquire OPL 245 for $1.1 billion from Malabu.

August 2011 - A U.N. report criticises Shell and the Nigerian government for contributing to 50 years of pollution in Ogoniland which it says needs the world's largest oil clean-up, costing an initial $1 billion and taking up to 30 years.

March 2012 - A group of 11,000 Nigerians from Bodo, Ogoniland, launch a suit against Shell at the London High Court, seeking tens of millions of dollars in compensation for the 2008 oil spills.

January 2013 - A Dutch court rules that Shell could be held partially responsible for pollution in the Niger Delta, saying the company should have prevented sabotage at one of its facilities. Four Nigerians and Friends of the Earth filed the suit originally in 2008 in the Netherlands.

January 2015 - Shell accepts liability for the Bodo spills, agreeing to pay 55 million pounds ($83 million at the time) to Bodo villagers and to clean up their lands and waterways.

May 2018 - Court case against Shell and Eni over the 2011 OPL 245 acquisition starts in Milan. Nine current and former executives and contractors, including ENI Chief Executive Claudio Descalzi, are accused by Italian prosecutors of paying $1.3 billion in bribes to secure the licence.

July 2020 - Italian prosecutors ask a Milan court to fine Eni and Shell 900,000 euros ($1.1 million) each and some current and former executives, including Descalzi, to be jailed. They also ask that $1.092 billion, the equivalent of the alleged bribes, be confiscated from all the defendants.

March 2021 - Milan court acquits all the defendants in the Italian trial.

Aug 2021 - Shell agrees to pay a Nigerian community 45.9 billion naira ($111.68 million) to settle a case over an oil spill with the Ejama-Ebubu community in Nigeria's Ogoniland.

May 2023 - UK Supreme Court rules that it was too late for Nigerian claimants to sue two Shell subsidiaries over the 2011 offshore oil spill.

January 2024 - Shell agrees to sell its onshore Nigerian oil and gas subsidiary to a consortium of five mostly local companies for up to $2.4 billion.

More News
25 Mar 2024 16:51

LONDON MARKET CLOSE: Renewed global tensions put pressure on stocks

(Alliance News) - Stock prices in London started the week in bad shape and closed lower on Monday, as investors sat on their hands amid rising global tensions.

Read more
22 Mar 2024 08:59

LONDON BROKER RATINGS: RBC cuts St James's Place; HSBC cuts Ascential

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
19 Mar 2024 20:08

DIRECTOR DEALINGS: Darktrace strategy chief sells GBP4 million shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Tuesday and not separately reported by Alliance News:

Read more
19 Mar 2024 16:57

LONDON MARKET CLOSE: European large-caps rise on eve of Fed decision

(Alliance News) - Blue-chip stock prices in Europe closed higher on Tuesday, showing little signs of nerves ahead of Wednesday's Federal Reserve decision and UK inflation reading.

Read more
19 Mar 2024 11:57

Yu annual raises dividend as earnings soar on strong sales bookings

(Alliance News) - Yu Group PLC on Tuesday said bookings drove its annual profit and revenue in 2023, and looks to 2024 with confidence as its order book continues to grow.

Read more
19 Mar 2024 11:52

LONDON MARKET MIDDAY: European markets flat ahead of Fed and BoE

(Alliance News) - Stock prices in London were down at midday on Tuesday, as investors sat on their hands ahead of interest rate decisions from the UK and US.

Read more
18 Mar 2024 16:09

UK dividends calendar - next 7 days

Tuesday 19 March 
Jarvis Securities PLCdividend payment date
Wednesday 20 March 
Virgin Money UK PLCdividend payment date
Thursday 21 March 
abrdn Asia Focus PLCdividend payment date
abrdn Private Equity Opportunities Trust PLCex-dividend payment date
AIB Group PLCex-dividend payment date
Beazley PLCex-dividend payment date
BlackRock World Mining Trust PLCex-dividend payment date
British American Tobacco PLCex-dividend payment date
Chemring Group PLCex-dividend payment date
CLS Holdings PLCex-dividend payment date
Conduit Holdings Ltdex-dividend payment date
Craneware PLCex-dividend payment date
Crest Nicholson Holdings PLCex-dividend payment date
Diverse Income Trust PLCex-dividend payment date
Fonix Mobile PLCex-dividend payment date
FW Thorpe PLCex-dividend payment date
Glanbia PLCex-dividend payment date
GlobalData PLCex-dividend payment date
Globalworth Real Estate Investments Ltdex-dividend payment date
Goodwin PLCex-dividend payment date
Gore Street Energy Storage Fund PLCex-dividend payment date
Hargreaves Services PLCex-dividend payment date
HgCapital Trust PLCex-dividend payment date
Hikma Pharmaceuticals PLCex-dividend payment date
Jardine Matheson Holdings LDex-dividend payment date
London Finance & Investment Group PLCex-dividend payment date
Maven Income & Growth VCT 3 PLCex-dividend payment date
Maven Income & Growth VCT 5 PLCex-dividend payment date
MTI Wireless Edge Ltdex-dividend payment date
Nichols PLCex-dividend payment date
NWF Group PLCex-dividend payment date
Palace Capital PLCex-dividend payment date
Pearson PLCex-dividend payment date
Pembroke VCT B PLCex-dividend payment date
Primorus Investments PLCex-dividend payment date
Schroders PLCex-dividend payment date
Triple Point Energy Transition PLCex-dividend payment date
Tristel PLCex-dividend payment date
VPC Specialty Lending Investments PLCdividend payment date
Friday 22 March 
easyJet PLCdividend payment date
FRP Advisory Group PLCdividend payment date
Gulf Investment Fund PLCdividend payment date
Henderson Opportunities Trust PLCdividend payment date
Hercules Site Services PLCdividend payment date
Impax Asset Management Group PLCdividend payment date
JLEN Environmental Assets Group Ltddividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Mattioli Woods PLCdividend payment date
Mobeus Income & Growth 2 VCT PLCdividend payment date
Mobeus Income & Growth 4 VCT PLCdividend payment date
Ramsdens Holdings PLCdividend payment date
Riverstone Credit Opportunities Income PLCdividend payment date
Ruffer Investment Co Ltddividend payment date
Samuel Heath & Sons PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Unilever PLCdividend payment date
Monday 25 March 
AstraZeneca PLCdividend payment date
Endeavour Mining PLCdividend payment date
Mountview Estates PLCdividend payment date
Shell PLCdividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
18 Mar 2024 11:49

LONDON MARKET MIDDAY: FTSE 100 as shakes off pre-interest rate nerves

(Alliance News) - Stock prices in London were higher at midday Monday, as eyes were firmly on interest rate decisions across the globe.

Read more
15 Mar 2024 12:11

LONDON MARKET MIDDAY: FTSE 100 underperforms despite mining, oil boost

(Alliance News) - London's FTSE 100 overcame a muted morning to head into Friday afternoon on the up, though its progress was shy of the loftier gains seen by mainland European peers, as investors showed some signs of trepidation ahead of a pair of interest rate decisions next week.

Read more
14 Mar 2024 17:25

EARNINGS AND TRADING: Versarien inks agreement for Brazilian JV

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
14 Mar 2024 11:54

BP details green credentials in similar push towards net zero as Shell

(Alliance News) - BP PLC on Thursday outlined similar targets to cut emissions as peer Shell PLC, as both oil and gas majors strive to become net zero for carbon emissions by 2050.

Read more
14 Mar 2024 09:55

TOP NEWS: Shell weakens green targets but backs 2050 net zero ambition

(Alliance News) - Shell PLC on Thursday softened its target for carbon emissions but pledged to invest heavily to meet its net zero target.

Read more
14 Mar 2024 08:02

Shell CEO paid £7.9m in first year, makes changes to climate pledge

(Sharecast News) - Energy giant Shell switched up its climate pledge on Thursday and revealed that chief executive Wael Sawan was paid a total of £7.94m in his first year on the job.

Read more
13 Mar 2024 10:02

Shell to cut 20% of jobs in deals team - report

(Sharecast News) - Shell will reportedly cut at least 20% of jobs in its deals team as the company continues to restructure its business units in an effort to reduce costs.

Read more
4 Mar 2024 08:55

LONDON MARKET OPEN: Review cuts Hipgnosis Songs Fund valuation

(Alliance News) - Stock prices in London opened mostly lower on Monday, as investor attention remained primarily on the release of the UK Spring budget on Wednesday.

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.