Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

Real-time Quote. Real-time Tradegate - 08/03 03:10:30 pm
26.138 EUR   -0.16%
10:14aDJAXA INVESTMENT : Royal Dutch Shell Plc
10:03a ROYAL DUTCH SHE : 56 UK, Nigerian Companies Explore Opportunities in..
09:37aDJM&G Inv Management Ltd Form 8.3 - Royal Dutch Shell Plc
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

06/11/2013 | 01:55pm US/Eastern
   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
React to this article
Latest news on ROYAL DUTCH SHELL A
02:07p ROYAL DUTCH SHELL A : BG Group’s Record Output Limits Oil Price Fall..
02:06p ROYAL DUTCH SHELL A : BG Group’s Record Output Limits Oil Price Fallout
10:30a ROYAL DUTCH SHELL A : Greenpeace performs arctic requiem in effort to touch hear..
10:14aDJAXA INVESTMENT MANAGERS S.A. FORM 8. : Royal Dutch Shell Plc
10:03a ROYAL DUTCH SHELL A : 56 UK, Nigerian Companies Explore Opportunities in Shell-S..
09:37aDJM&G Inv Management Ltd Form 8.3 - Royal Dutch Shell Plc
09:34aDJAXA INVESTMENT MANAGERS S.A. FORM 8. : Bg Group Plc
06:08a ROYAL DUTCH SHELL A : Portland icebreaker protesters cleared after judge fines G..
04:39a ROYAL DUTCH SHELL A : US says Shell is not yet allowed to drill
03:16a ROYAL DUTCH SHELL A : *hsbc raises shell b price target to 2100 pence - 'hold'
Advertisement
Chart
Duration : Period :
Royal Dutch Shell A Technical Analysis Chart | RDSA | GB00B03MLX29 | 4-Traders
Income Statement Evolution
More Financials