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LequteMan
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Nigeria - Apart from saying it paid the Nigerian government $3bn in 2014 and $48bn altogether since 2010, a Shell Sustainability report says FG also receives 95% of the profit on a barrel of oil it produces, according to Daily Independent:
Royal Dutch Shell has said that it paid $3 billion to the Nigerian government in 2014 as royalties and taxes. The oil giant said Shell Petroleum Development Company of Nigeria Limited (SPDC) contributed $1.8 billion and Shell Nigeria Exploration and Production Company (SNEPCo) paid $1.2 billion.
This was contained in the company’s Sustainability Report for 2014 published recently, putting revenues from SPDC to the Nigerian government from 2010 to 2014 at $48 billion.
According to the report, Shell put share of revenue after cost that goes to the Nigerian government from each barrel of oil that SPDC produces at 95 per cent while 90 per cent of total number of contracts were awarded to local companies.
Shell also said $1.5 billion was spent by SPDC and SNEPCo on local contracting and procurement in 2014; funded the Niger Delta Development Commission with $93.6 million, and made $34.3 million direct contribution to social investment projects.
click here to read more
Hard to believe? Yes, very hard.
#Nigeria #Oil #Shell #SPDC #SNEPCo
Royal Dutch Shell has said that it paid $3 billion to the Nigerian government in 2014 as royalties and taxes. The oil giant said Shell Petroleum Development Company of Nigeria Limited (SPDC) contributed $1.8 billion and Shell Nigeria Exploration and Production Company (SNEPCo) paid $1.2 billion.
This was contained in the company’s Sustainability Report for 2014 published recently, putting revenues from SPDC to the Nigerian government from 2010 to 2014 at $48 billion.
According to the report, Shell put share of revenue after cost that goes to the Nigerian government from each barrel of oil that SPDC produces at 95 per cent while 90 per cent of total number of contracts were awarded to local companies.
Shell also said $1.5 billion was spent by SPDC and SNEPCo on local contracting and procurement in 2014; funded the Niger Delta Development Commission with $93.6 million, and made $34.3 million direct contribution to social investment projects.
click here to read more
Hard to believe? Yes, very hard.
#Nigeria #Oil #Shell #SPDC #SNEPCo
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