Search NaijaAgroNet

Wednesday, April 3, 2019

Oil Exploration: Shell pledges greater corporate transparency - NaijaAgroNet

The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo), has pledged to be transparency in its exploration in the country, reports NaijaAgroNet.

This pledge is coming with the payment of over $6.397 billion to the Nigerian government and its agencies in 2018 by Shell exploration and production companies in Nigeria.

The payment, NaijaAgroNet gathered, represents a 48 per cent increase over payments by the companies to Nigerian government in 2017 which was $4.322 billion.

The payments formed part of the four documents released on Tuesday by the Group Chief Executive Officer of the Royal Dutch Shell, Ben Van Beurden, to signal the global oil giant’s renewed commitment to greater transparency. The documents are: Shell Sustainability Report; Industry Associations Climate Review; Nigeria Briefing Notes; and Payments to Government Report.

“Shell must remain at the forefront of the drive for greater corporate transparency. We will continue to be more open about what we do and why we do it,” said van Beurden. “We want to help people better understand Shell’s performance, values and principles. These reports outline our approach and activities in the crucial areas of sustainability and our relationships with industry associations and governments.”

In the breakdown of the 2018 payments, the Shell companies paid $3.776 billion to the Nigeria National Petroleum Corporation as production entitlement while $1.286 billion was paid in taxes to the Federal Inland Revenue Service. Another $1.253 went to the Department of Petroleum Resources for royalties and fees, while $81.5 million was remitted to the Niger Delta Development Commission.

Managing Director of SPDC and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, described the reports as a further testament to Shell’s efforts to increase transparency around activities that are important to investors, governments and civil society. “We are irrevocably committed to transparency just as we are to business integrity part of our core values and central tenets of the Business Principles that govern the way we do business.”

The Shell Nigeria Briefing Notes detail the activities of the Shell Companies in Nigeria for 2018. These include production, environmental performance, social investment, economic contributions, gas initiatives, deepwater operations, security and Nigerian content development.

The Industry Associations Climate Review assesses for the first time Shell’s alignment with 19 key industry associations on climate-related policy. The report also details new governance principles to improve how Shell manages its memberships of industry associations on climate-related topics.

The 22nd edition of the Shell Sustainability Report outlines Shell’s approach to sustainability and covers its social, safety and environmental performance in 2018. It sets out how Shell is playing a role in the transition to a lower-carbon world and its contribution to society, which includes helping to achieve universal access to cleaner, affordable energy.

In addition, Shell published its 2018 Payments to Governments Report covering 34 countries where it has extractive activities.

Isaac Oyimah/Editor


... Linking agrobiz, sustainable environs, people & technology

2 comments:

  1. I have been in relationship with my boyfriend for 2 year now and we were planning to get married soon and all of a sudden he left me for another girl, i really love this guy and never can imagine my life without him. I further tried all my best to get him back but all my effort to get him back in my life did not work out. It was on this faithful day, i came across some comments on a website about this great spell caster called Chief Dr Lucky, so many persons claimed that he help them to renew their relationship and bring their ex back, i had to contact him because he was my last hope. I contacted him through his email and he assured me that in two days time my boyfriend is going to leave the other girl and come back to me and it was a very great surprise to see my boyfriend coming back to me after two days. I am so very happy today that he came back to me and i achieved this with the help of Chief Dr Lucky, and i advice if you need his help too Email: Chiefdrlucky@gmail.com or Whats App: +2348132777335
    Website: http://chiefdrluckysolutionhome.website2.me/

    ReplyDelete
  2. But the men that went up with him said, We be not able to go up against the people; for they are stronger than we. And they brought up an evil report of the land which they had searched unto the children of Israel, saying, The land, through which we have gone to search it, is a land that eateth up the inhabitants thereof; and all the people that we saw in it are men of a great stature. And there we saw the giants, the sons of Anak, which come of the giants: and we were in our own sight as grasshoppers, and so we were in their sight.
    Jogos grátis
    jogo 360
    friv online Games for kids 2019

    ReplyDelete

Share ur views here