By Davidson Iriekpen 20 April 2010
Shell Petroleum Development Company (SPDC) is about to forfeit ownership of the land hosting its biggest export terminal in the country following the judgment of the Court of Appeal sitting in Port Harcourt, Rivers State.
The Bonny terminal currently has over 12 million barrels of crude oil storage capacity and is also the biggest export terminal in Nigeria.
It has a helicopter landing pad and facilities capable of loading super tankers in addition to an indoor berthing facility that can take six ocean going tankers, an expatriate club, a residential area, amongst others.
The Court of Appeal at the weekend re-affirmed Rivers State High Court order which ordered the multi-national oil giant to forfeit the land to the indigenes of Bonny.
The appellate court panel, made up of Justices Suleiman Galadima, Istifanus Thomas and Ejembi Eko, in a unanimous decision, did not only uphold the judgment of the lower court, but also dismissed the appeal filed by Shell, describing it as substantially lacking merit.
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