A Nigerian court has stopped Shell Plc from selling any assets in Nigeria until a decision is reached on the company's appeal of a nearly $2 billion penalty for an alleged oil spill.
An overview of the Niger delta where signs of oil spills can be seen in the water in Port Harcourt, Nigeria August 1, 2018. Picture taken August 1, 2018. To match Insight NIGERIA-SECURITY REUTERS/Ron Bousso/File Photofrom selling any assets in Nigeria until a decision is reached on the company's appeal of a nearly $2 billion penalty for an alleged oil spill.
A copy of the court ruling, which was seen by Reuters on Monday, was issued on March 11 and also ordered Shell to deposit the money in an account controlled by the court within two working days.Register now for FREE unlimited access to Reuters.comA panel of three judges said Shell, acting through its agents or subsidiaries was restrained from "selling, allocating, vandalising or disposing off any of its assets/properties ..." pending the determination of the appeal.
A Federal High Court in November 2020 ordered Shell to pay 800 billion naira to 88 communities of Egbalor Ebubu in Rivers state, who had accused the company of an oil spill that damaged their farms and waterways.Shell started talks with the Nigerian government last year about selling its stake in the West African country's onshore fields, where it has been active since the 1930s, as part of a global drive to reduce its carbon emissions.
Last year, Shell agreed to pay a Nigerian community $111.68 million to settle a case over an oil spill that took place more than 50 years ago.Additional reporting by Tife Owolabi in Yenagoa, Editing by MacDonald Dzirutwe, Jane Merriman and Emelia Sithole-Matarise
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