A destroyed refinery By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks. Also, the company said 63 illegal pipeline connections were uncovered during the the weeks . The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge. According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation. It further said that two large boats, which involve
By Akinola Ajibade
Shell Companies in Nigeria ( SiN) have paid $4,521,134,915 to the Federal Government in the fiscal year ended 2022.
The firms, in a reports titled Shell's Sustainability, Cilmate & Energy Transition, Lobbying and Payments to the Federal Government, said that the money covers production entitlements, royalties, taxes and fees expected of them as corporate institutions operating in Nigeria
Published this week Tuesday, the reports give up-to-date financials plans and programmes of the multinational Oil Company ( IOC) in the country.
In the reports, which catalogued the activities of Shell Petroleum Development Company SPDC and Shell Nigeria Exploration and Production Company SNEPCO, a sum of $3,035,996 was paid as production entitlement, $ 711, 850,070 as taxes $691, 648,502( royalties) and fees of $81,639,634. Altogether, Shell's companies have paid a total paid a total of $ 4,521,134,915.
The reports added that the money realised through Production Sharing Contract (PSC) — (OPL212/OML118, OPL219/OML135) was known as production entitlement to the government ; while royalties are paid by oil companies operating in oil producing areas in the country.
The reports stated that said,production entitlement from the company’s West Asset amounted to $ 1,783,447,897. It was only tax that was paid in respect of PSC 1993 (OML133) and this amounted to$194,604,155.
According to the Shell, its East Asset attracted a production entitlement of $713,234,993. While other royalties, taxes and fees paid by SPDC $510,881,687
The reports said: “Our operations generate revenue through taxes and royalties for governments around the world. These taxes and royalties are often used by governments to fund essential public services like education, transport and healthcare.
Adding that:“Since 2016 Shell has made mandatory disclosures under the UK’s Reports on Payments to Governments Regulations 2014 (amended December 2015). We have published the revenues that our operations generate through taxes and royalties on a voluntary basis since 2012. We believe that being open about our tax payments helps people to understand how much we pay and why.
In his introduction to the reports, Shell’s Chief Executive Officer, Wael Sawan,said:
“As we invest in the energy needed today, our target to become a net-zero emissions energy business by 2050 remains at the heart of our strategy. We are making good progress. By the end of 2022, we had reduced carbon emissions from our operations by 30% compared with 2016 on a net basis, more than halfway towards our target of a 50% reduction by 2030.
“This report shows what we have achieved so far in our work to be a sustainable business. We aim to do this work responsibly, with discipline and at pace to make a positive difference.
“Shell also published its new 2022 Climate and Energy Transition Lobbying Report. This is another step forward on our journey to increase transparency around our advocacy. It builds on the progress we have made since 2019 in reporting on the key industry associations we are members of, and in providing examples of our advocacy on our website.”
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