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FG’s $407m Suit Against Shell Adjourned to Oct 9

FG’s $407m Suit Against Shell Adjourned to Oct 9A Federal High Court sitting in Lagos has adjourned till October 9 the crude oil shipment suit brought by the federal government against Anglo-Dutch oil multinational, Shell.

The adjournment followed the absence of the trial judge, Justice Mojisola Olatoregun, during proceedings Tuesday.

The suit was filed by the federal government’s counsel Fabian Ajogwu (SAN) against Shell Petroleum Development Company of Nig. Ltd and its subsidiary, Shell Western Supply & Trading Ltd. as co-defendant, reported the News Agency of Nigeria (NAN).

The federal government is claiming $406.7 million from the defendants as the shortfall of money paid for crude oil lifted between 2013 and 2014.

The plaintiff, in its supporting affidavit, accused the Anglo-Dutch oil major of not declaring or under-declaring crude oil shipments during the period.

It said the discovery followed a forensic analysis of bills of laden and shipping documents, adding that Shell had cheated Nigeria of the revenue.

It added that a consortium of experts tracked the global movement of the country’s hydrocarbons including crude oil and gas.

The experts, the government is contending, identified the companies engaged in the practice that led to missing revenues from crude oil and gas export sales to different parts of the world.

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