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

ROYAL DUTCH SHELL (RDSA)
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Nigeria Seeks $7.8 Billion From Oil Cos in Unpaid, Underpaid Taxes -Watchdog

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06/11/2013 | 07:55pm CEST
   By Sarah Kent 
 

LONDON--Nigeria's President Goodluck Jonathon Monday directed government agencies to recover $7.8 billion that audits carried out by the Nigerian Extractive Industries Transparency Initiative found oil companies operating in the country owed the government in unpaid and underpaid taxes, NEITI said Tuesday.

According to the audits, Nigeria's government has experienced a potential revenue loss of $9.8 billion as a result of under-assessments and under-payments of taxes and rents, process manipulation and poor interpretation of agreements between the government and companies, NEITI said, adding that it has already helped recover $2 billion but $7.8 billion remains outstanding.

However, in the past members of the industry have contested NEITI's findings.

Earlier in the year, Nigeria's state oil company, Nigeria National Petroleum Corp., or NNPC, vehemently denied findings by NEITI that suggested the company owed the government $8.16 billion for crude oil sales made between 2009 and 2011.

An industry source suggested that NEITI had misunderstood some of the figures it was given in its last report and clarification has been sought.

Foreign oil companies operating in Nigeria include Royal Dutch Shell PLC (RDSA), Eni SpA (E), Total SA (>> Total SA), Exxon Mobil Corp. (>> Exxon Mobil Corporation) and Chevron Corp. (>> Chevron Corporation).

Shell and Eni declined to comment. Total, Chevron and Exxon were not available to comment.

Write to Sarah Kent at [email protected]

Stocks mentioned in the article : Exxon Mobil Corporation, Total SA, Chevron Corporation
Stocks mentioned in the article
ChangeLast1st jan.
CHEVRON CORPORATION 0.15% 122.72 Delayed Quote.-1.97%
ENI -1.11% 15.85 End-of-day quote.16.14%
EXXON MOBIL CORPORATION 1.47% 79.5 Delayed Quote.-4.95%
ROYAL DUTCH SHELL -0.80% 29.095 Delayed Quote.4.71%
TOTAL -1.33% 51.15 Real-time Quote.12.59%
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Financials ($)
Sales 2018 334 B
EBIT 2018 32 540 M
Net income 2018 21 420 M
Debt 2018 58 115 M
Yield 2018 5,24%
P/E ratio 2018 14,29
P/E ratio 2019 12,99
EV / Sales 2018 1,06x
EV / Sales 2019 1,01x
Capitalization 297 B
Chart ROYAL DUTCH SHELL
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Royal Dutch Shell Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Technical analysis trends ROYAL DUTCH SHELL
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 37,0 $
Spread / Average Target 3,3%
EPS Revisions
Managers
NameTitle
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$)
ROYAL DUTCH SHELL4.71%297 147
PETROCHINA COMPANY-4.70%213 809
TOTAL12.59%165 443
PETROLEO BRASILEIRO SA PETROBRAS39.63%89 087
STATOIL16.67%84 875
ENI16.14%71 414