An agreement was struck under which Malabu would be paid to give up the licence, which would then be sold to Shell and the Italian oil company Eni.
17 Dec 2017
The Nigerian government is suing JP Morgan for $875m (£660m), alleging the Wall Street banking giant acted as the middleman in an illegal oil deal and made payments to a convicted money launderer.
Papers filed with the High Court in London claim that in 2011 the bank transferred money to a company controlled by Dan Etete, a former oil minister in the Nigerian government. He had previously been convicted of money laundering by French courts and is being pursued by Nigerian authorities.
NAM has also been in the news of late due to recent evidence implicating the company as the cause of small earthquakes impacting Groningen, a province just north of the former gas field.
Credit: BSEE: By =&0=&2017-12-27 18:15:55
GARY SHIPWAY, NT News:
In February 1965 there was a explosive blowout at a NAM gas field in Sleen, East Drenthe – an agricultural area of the Netherlands. A whole drilling rig was swallowed in a quicksand lake created by the explosion.
NEWS PROVIDED BY 
Dec 27 (Reuters) – Royal Dutch Shell Plc said it expects recently enacted U.S. tax reform legislation to have a “favorable” impact on its operations. The change in U.S. tax legislation, which is a reduction to 21 percent from 35 percent, will affect Shell’s fourth-quarter 2017 results but added the “analysis of the actual impact is not yet complete.” The Anglo-Dutch company said it expects to provide details of the impact of the tax reform, which is effective from Jan. 1, in its fourth-quarter 2017 results. 
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