Nigerian lawmakers are considering fining British Oil company Royal Dutch Shell a record $5 billion for a December 2011 offshore oil . . . the leak occurred at Nigeria’s offshore Bonga field that was producing 200,000 barrels a day before it was shut down due to the leak . . .the leak was the worst in 10 years . . . according to Shell, the company, “responded to this incident with professionalism and acted with the consent of the necessary authorities at all times to prevent an environmental impact” . . . Shell claims that none of the leaked oil reached land and the company indicated that it questioned the validity of claims asserting that it was responsible for any oil that washed ashore in Nigeria . . . while the unprecedented fine against Shell plays into growing popular anger at multinational oil companies in Nigeria, a smaller fine is likely to be assessed . . . based on Nigeria’s history in handling oil spills, Shell will probably pay little of the final fine but may agree to a settlement that includes increased spending by the company in Nigeria to build schools and roads.
LIGNET provides you with actionable intelligence and in-depth analyses from seasoned insiders including senior CIA officials, presidential advisors, ambassadors, and more.