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

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

News SummaryMost relevantAll newsSector newsTweets 

Nigeria Seeks $7.8 Billion From Oil Cos in Unpaid, Underpaid Taxes -Watchdog

share with twitter share with LinkedIn share with facebook
share via e-mail
06/11/2013 | 07:55pm CET
   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 sarah.kent@dowjones.com

Stocks mentioned in the article : Exxon Mobil Corporation, Total SA, Chevron Corporation
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ROYAL DUTCH SHELL A
01/17 ROYAL DUTCH SHELL A : Oman Shipping sign 3-year deal with Shell International
01/17 ROYAL DUTCH SHELL A : Oman Shipping signs 3-year deal with Shell
01/17 ROYAL DUTCH SHELL A : *jefferies raises shell price target to 2700 pence - 'buy'
01/16 ROYAL DUTCH SHELL A : Two local nonprofits get Dutch Oil grants
01/15 ROYAL DUTCH SHELL A : OSC Signs Affreightment Contract with Shell International ..
01/13 ROYAL DUTCH SHELL A : U.S. Patents Awarded to Inventors in Louisiana (Jan. 13)
01/13 ROYAL DUTCH SHELL A : *jpmorgan raises shell b price target to 2600 pence - 'ove..
01/13 ROYAL DUTCH SHELL A : *jpmorgan raises shell price target to 2600 pence - 'overw..
01/12 PETRO MATAD : Notes Share Price Move, Says No Further Update
01/11DJROYAL DUTCH SHELL A : Shell Reports Small Leak at Deer Park, Texas, Facility
More news
Sector news : Oil & Gas Refining and Marketing - NEC
01/17DJEXXON MOBIL : Expands Permian Basin Footprint -- 2nd Update
01/17DJCorrection to BP CEO Story on Recent Deals
01/17 Exxon doubling Permian Basin holdings in U.S. for up to $6.6 billion
01/17DJExxon Mobil Expands Permian Basin Footprint -- Update
01/17DJEXXON MOBIL : to Buy Permian Basin Land From Bass Family for More Than $5.6 Bill..
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
01/17 Oil majors, automakers to push hydrogen to help cut emissions
01/17 Oil Futures Prices Continue Up - Where To Invest Now
01/17 REPORT : Shell's Gabon sale to be finalized this month
01/16 3 Undervalued, High-Yield Dividend Stocks For 2017
01/13 2016 Investment Candidates Delivered 10% Alpha And 2017 Tactical Investing Co..
Financials ($)
Sales 2016 233 075 M
EBIT 2016 11 042 M
Net income 2016 6 334 M
Debt 2016 71 131 M
Yield 2016 6,79%
P/E ratio 2016 22,52
P/E ratio 2017 14,15
EV / Sales 2016 1,29x
EV / Sales 2017 1,06x
Capitalization 230 497 M
More Financials
Duration : Period :
Royal Dutch Shell A Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Full-screen chart
Technical analysis trends ROYAL DUTCH SHELL A
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 31,7 $
Spread / Average Target 15%
Consensus details
EPS Revisions
More Estimates Revisions
Ben van Beurden Chief Executive Officer & Executive Director
Charles Holliday Chairman
Simon P. Henry Chief Financial Officer & Executive Director
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Deputy Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DUTCH SHELL A-0.25%230 497
BP PLC-1.49%121 541
CHINA PETROLEUM & CHEM..10.17%102 581
SUNCOR ENERGY INC.-3.61%54 433
More Results