Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Dutch Shell    RDSA   GB00B03MLX29

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

Royal Dutch Shell : Shell's Fresh Bid for Ogoni Oilfield Stirs Tension

share with twitter share with LinkedIn share with facebook
share via e-mail
04/22/2018 | 12:06pm CEST

An atmosphere of unrest is looming over Ogoni land, following the renewal request by Shell Petroleum Development Company for Oil Mining Leases (OML11).

Already, the Movement for the Survival of the Ogoni People (MOSOP) and Ken Saro-Wiwa Associates (KSWA) have intensified mobilisation of the people for a possible showdown with authorities over the development, coming when the United Nations Environment Programme (UNEP) report for the cleanup of Ogoni is yet to be implemented.

Shell has consistently maintained it is not interested in returning to Ogoni. The Guardian, however, discovered it wrote a letter dated October 16, 2017 to the Minister of State for Petroleum, seeking the renewal of its lease, due to expire June 2019.

Excerpts from the letter read: "By way of background, these leases are valid for 30 years from 1989 and so due for renewal before June 2019.

Our application is made pursuant to Article 13(1) first schedule of the Petroleum Act, which requires the lessee of an OML to apply for renewal of its lease not less than 12 months before expiry."

Shell said the renewal of the lease for the Ogoni oilfields and others will enable it and joint venture partners continue contributing to the Federal Government's agenda for the nation through oil and gas production, payment of royalties, taxes and levies, and support of local communities.

Intriguingly, Shell's request came on the heels of a letter written to it four days earlier by the National Petroleum Investment Management Services (NAPIMS), noting that a company, RoboMichael Limited, had expressed interest in obtaining licensing rights on the oilfields.

NAPIMS had told Shell to initiate discussions on potential partnership, with the aim of exploring possible means of resuming crude oil and gas production. Shell was also directed to inform all its partners of its engagement with RoboMichael, and also secure necessary approval should any agreement be reached.

The endorsement of RoboMichael by NAPIMS and the Supreme Council of Ogoni Traditional Rulers, however, has continued to fuel speculation that the company is Shell's proxy.

Former President of the Movement for the Survival of the Ogoni People (MOSOP), Ledum Mitee, told The Guardian that Shell's bid to renew its license in Ogoni, 23 years after Ken Saro-Wiwa and other prominent Ogoni were killed by the military, smacks of insensitivity.

Mitee explained that while Ogoni have not ruled out the resumption of oil production in the area, it would be inhumane for anyone to start contemplating this when the UNEP report has not been implemented.

He said it is heartrending that despite the UNEP 2011 recommendations, Ogoni people are still drinking water from wells contaminated with over 900 times the level of cancer-causing benzene allowed by the World Health Organisation (WHO).

On his part, the national coordinator of KSWA, Gani Topba, accused some of the chiefs that endorsed the resumption as being Shell apologists.

KSWA, meanwhile, has already written to the Governor of the Central Bank of Nigeria not to approve any foreign funding sought by RoboMichael for the development and operation of Ogoni oilfields.

Topba explained that Ogoni are fully mobilised to resist any attempt by Shell through any proxy, while the fundamental issues that led to Shell's abrupt exit from Ogoni in 1993 remain unresolved.

MOSOP President, Legborsi Pyagbara, said the Ogoni people are vehemently against the resumption of oil production, until there is a broad-based discussion with the people, the Federal Government and Shell.

Copyright The Guardian. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ROYAL DUTCH SHELL
04/22ROYAL DUTCH SHELL : Shell's Fresh Bid for Ogoni Oilfield Stirs Tension
04/21ROYAL DUTCH SHELL : Come back fully, we'll protect your interest, Okowa appeals ..
04/20ROYAL DUTCH SHELL : Delta Governor wants Shell back
04/20ROYAL DUTCH SHELL : Shell gets 12-year $40-100/bbl operational benchmark
04/19ROYAL DUTCH SHELL : Delta governor wants Shell back in Warri
04/18ROYAL DUTCH SHELL : Oil, Gas Reserves to Witness Drastic Reduction over Climate ..
04/18ROYAL DUTCH SHELL : Oil, Gas Reserves to Witness Drastic Reduction Over Climate ..
04/18ROYAL DUTCH SHELL : Shell to develop Phase 9B of WDDM within 2 months
04/18POLLUTION : Taking Shell to court will help Niger Delta communities, environment..
04/18ROYAL DUTCH SHELL : Shell to develop Phase 9B of WDDM within 2 months
More news
News from SeekingAlpha
04/17Shell set to resume deepwater exploration offshore Egypt 
04/17CONSTRUCT YOUR OIL PORTFOLIO : The Trend Following Version 
04/16Shell's Climate Liability Threat Goes Global 
04/16Shell CEO asks investors to reject shareholder vote on emissions 
04/16Chevron to go ahead with Gorgon LNG expansion offshore Australia 
Financials ($)
Sales 2018 333 B
EBIT 2018 32 540 M
Net income 2018 21 420 M
Debt 2018 58 074 M
Yield 2018 5,31%
P/E ratio 2018 14,08
P/E ratio 2019 12,80
EV / Sales 2018 1,07x
EV / Sales 2019 1,01x
Capitalization 298 B
Duration : Period :
Royal Dutch Shell Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Technical analysis trends ROYAL DUTCH SHELL
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 37,0 $
Spread / Average Target 4,8%
EPS Revisions
Bernardus Cornelis Adriana Margriet van Beurden Chief Executive Officer & Executive Director
Charles Otis Holliday Chairman
Jessica Rodgers Uhl Chief Financial Officer & Director
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Director
Sector and Competitors
1st jan.Capitalization (M$)
TOTAL9.98%164 822
STATOIL13.41%85 153
ENI15.59%71 227