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Shell angry at $5 bln fine demanded for spill in Nigeria

Wednesday, July 18, 2012

Shell angry at $5 bln fine demanded for spill in Nigeria


Nigerian regulators are demanding Royal Dutch Shell pays $5 billion in fines for environmental damage caused by last year’s oil spill at its offshore Bonga field. Shell says there is no legal basis for the fine.

The fine would be the largest Shell has ever received in Nigeria and is about $125,000 for each barrel of oil split in the Bonga field, about 120 kilometers off the coast.

The spill which was probably the worst in the area for a decade, occurred on December 20, 2011 and according to estimates less than 40,000 barrels, or 1.68 million gallons were released. .... MORE

SourceRT.com

URL: http://rt.com/business/news/shell-angry-over-demands-to-pay-huge-fine-for-oil-spill-in-nigeria-455/

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