Nigeria's Supreme Court upholds freeze on Shell's asset sale - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Nigeria’s Supreme Court has upheld a lower court ruling that stopped Shell Plc from selling its assets in Nigeria until a dispute between the oil major and a Niger Delta community over a 2019 oil spill is resolved.

An overview of the Niger delta where signs of oil spills can be seen in the water in Port Harcourt, Nigeria August 1, 2018.An overview of the Niger delta where signs of oil spills can be seen in the water in Port Harcourt, Nigeria August 1, 2018.

Shell, which denied causing the spill, appealed the compensation verdict and the ruling blocking the sale of its assets. The company then went on to advertise for bids for the assets after filing an appeal. “What the status quo means here is that there should be no bids, no sales until the hearing of the applications which has been fixed for November 3, 2022,” Mohammed Ndarani, the lawyer representing the Delta communities told Reuters on Monday.Shell wants to sell its stake in Nigeria’s onshore fields, where it has been active since the 1930s, as part of a global drive to reduce its carbon emissions.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good decision.

All about money nothing else, not about the nature not about the people just the selfish,greedy,people sis yah ne money

I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Allison_Grillo, and I gave Bitcoin trading another try, I successfully withdrew $35,000 after two weeks of trading, am so grateful Allison_Grillo thank you.

Trading bitcoin is hard so i am correctly investing with an expert of a trading platform which have paid me 5 times in the last 3 months still hoping on my June 3rd profit dm my account manager and start earning more than your salary weekly chrissdiazn success at last

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stormers crowned inaugural URC Champs - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.A second-half resurgence by the Stormers saw them being crowned the first United Rugby Championship (URC) winners on Saturday night in Cape Town. When will you start broadcasting these rugby games live
Source: SABCNews - 🏆 37. / 51 Read more »