Royal Dutch Shell has said that it paid $3 billion to the Nigerian government in 2014 as royalties and taxes. The oil giant said Shell Petroleum Development Company of Nigeria Limited (SPDC) contributed $1.8 billion and Shell Nigeria Exploration and Production Company (SNEPCo) paid $1.2 billion.
This was contained in the company’s Sustainability Report for 2014 published recently, putting revenues from SPDC to the Nigerian government from 2010 to 2014 at $48 billion.
According to the report, Shell put share of revenue after cost that goes to the Nigerian government from each barrel of oil that SPDC produces at 95 per cent while 90 per cent of total number of contracts were awarded to local companies.
Shell also said $1.5 billion was spent by SPDC and SNEPCo on local contracting and procurement in 2014; funded the Niger Delta Development Commission with $93.6 million, and made $34.3 million direct contribution to social investment projects.
It noted that SPDC with 30 per cent interest is the operator of a joint venture between the government-owned Nigerian National Petroleum Corporation (NNPC) with NNPC having 55%, Shell has 30%, Total has 10%, while ENI has 5%.
The report also noted that SNEPCo, which is 100% owned by Shell, holds interests in a number of offshore licences including the Shell-operated Bonga field (Shell interest 55%), Nigeria’s first deep-water project. Shell also has a 25.6% interest in Nigeria Liquefied Natural Gas (NLNG), which exports Liquefied Natural Gas (LNG) around the world.
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