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Shell to pay $110M to settle Nigeria oil spill lawsuit – Bloomberg

Aug. 11, 2021 4:25 PM ETRoyal Dutch Shell plc (RDS.A)RDS.BBy: Carl SurranSA News Editor

Royal Dutch Shell (RDS.A, RDS.B) agrees to pay $110M to a Nigerian community for a “full and final satisfaction” of a long-running dispute over an oil spill that happened more than 50 years ago.

The company will pay the Ejama-Ebubu people 45.7B naira ($110.9M) in compensation to put an end to a legal case that began in 1991, the community’s lawyer reportedly tells Bloomberg.

In 2010, a Nigerian court ordered Shell to pay 17B naira to the community, which the company unsuccessfully challenged several times; in March 2020, a judge in a related court case said that Shell’s debt with interest accrued had run up to 183B naira, which the company also contested.

It is not clear if Shell withdrew its international arbitration claim filed earlier this year against the Nigerian government at the World Bank.

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