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Article

9 Oct 2001

Author:
Emeka Ugwuanyi, Vanguard [Lagos, Nigeria]

Shell Loses N880bn to Ogoni Crisis [Nigeria]

Shell Petroleum Development Company (SPDC) has incurred a loss of about $8.1 billion following withdrawal of its operations in Ogoni, Rivers State. SPDC, Vanguard gathered, feels disenchanted with the situation and has been craving to make a turn back to the oil-rich communities of Ogoni it left in 1993. The management of the company, Vanguard gathered, is currently canvassing to make peace with the indigenes through negotiations as it promises to meet reasonable demands that may be made by the Ogonis provided there will not be a recurrence of vandalization of SPDC's facilities nor attack on its staff.