Shell officials on Monday will begin talks in Nigeria’s southern city of Port Harcourt with representatives for the Bodo community on compensation and cleanup five years after one of the worst oil spills in Nigeria’s history.
A company run by Africa’s richest man received a loan toward a $9 billion project that will give Nigeria its largest oil refinery and petrochemical and fertilizer complex, reducing the country’s reliance on international markets.
Nigeria risks losing $185 billion within 10 years as higher taxes proposed by a new law will deter investment in the country’s oil industry, an association of energy companies including Exxon Mobil Corp. (XOM) said.
At Royal Dutch Shell Plc’s (RDSA) compound in the Nigerian city of Warri, the gate is locked, the grounds are empty and grass has overgrown since Europe’s biggest oil company closed its operations in March after more than 40 years.
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