Shell $2.4 Sales Of Onshore Assets Is Fraudulent And Must Be Halted By President Tinubu And Nigerians

As long time key observers and experts in the operations and politics of SHELL and other Multinational Oil Companies exploring and exploiting Petroleum from the Niger Delta Region of Nigeria since 1956 till date, we are not at all surprised that the Management of Shell Plc based at its London Headquarters, announced its decision to sell its claimed 30% Share of the NNPC, SHELL, ELF and Agip Joint Venture Onshore Assets in the Region to some companies for $2.4b under the false excuses that this is due to declining crude oil production caused by crude theft, pipeline vandalism, unrest in their host communities and under investment in the industry. Who are the real crude oil thieves?
This move by Management of Shell Plc was long expected by us because Shell and many of the other Multinational Oil Companies operating Onshore and Swamp in this Niger Delta Region have for many decades been insincere and fraudulent in their cause of operating the Joint Venture Agreements between them and Nigeria through the NNPC.
Their insincerity and fraud include but not limited to:
1) False and under-declaration of actual daily quantity of crude oil they produce and export out of Nigeria, in the process denying Nigeria hundreds of billions of Dollars in Revenue
2) Deliberate Inflation of Cost of Capital Projects and Operations in order to evade their required percentage contributions to every Capital Project and Operating Costs. This leaves Nigeria through NNPC, to bear 100% of such Costs while Shell and others only share from the profit made which they again under-declare to Nigeria.
3) Degradation and Destruction of the Environment and Host Communities where they explore and exploit for Petroleum
4) Poor Social Corporate Policies and Actions and deliberate promotion of inter-communal crisis in order to divide and rule the people
But when in recent years Anti-Corruption, Human and Environmental Right Campaigners began to expose these frauds and atrocities, Shell and other Multinational Oil Companies began to feel very uncomfortable and sort to escape from its Onshore and Swamp Fields to avoid the prying eyes of these Campaigners. They are all rushing Offshore and Deep Offshore where they are free to continue their insincerity and frauds against Nigeria as it is practically impossible for these Campaigners to gain access to these offshore fields and operations to monitor their activities.
Nigerians should ask the reason for their sudden love and attraction to offshore operations that are globally known to be more expensive to operate and with lesser profit margin compared to onshore and offshore operations?
It is a known fact that the increase in crude oil thefts amounting to millions of barrels monthly take place from the offshore fields of Shell and the other multinational oil companies.
We therefore state categorically that given the above, Shell and other multinational oil companies operating and or have operated onshore and swamp locations of Niger Delta Region are not entitled to a Dime as their shares of these Assets instead they are indebted to Nigeria to the tune of hundreds of billions of dollars and should be made to fully pay without further delay.
In conclusion, we are calling on President Tinubu, The National Assembly, State Governors of the Niger Delta Region and Nigerians, to strongly reject and halt this planned sales of these Onshore and Swamp Assets that wholly belong to Nigeria given the facts we have advanced above.
– Comrade Igbini Odafe Emmanuel, National President,
Vanguard for Transparent Leadership and Democracy (VATLAD)
January 17, 2024