Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 475.20
Bid: 475.40
Ask: 475.55
Change: 2.40 (0.51%)
Spread: 0.15 (0.032%)
Open: 476.30
High: 479.50
Low: 474.30
Prev. Close: 472.80
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TIMELINE-Shell's operations in Nigeria

Sun, 23rd Sep 2018 08:00

LONDON, Sept 23 (Reuters) - Royal Dutch Shell pioneeredNigeria's oil and gas industry and remains a major investor inthe West African country. But over the decades it has come underfire over spills in the Delta region and struggles with oiltheft, corruption and oil-fueled violence.

Following are some of the highlights of Shell's history inNigeria:

1936 - The Royal Dutch Shell Group establishes a Nigerianventure with the precursor company of BP Plc. The first shipmentof oil from Nigeria takes place in 1958.

April 1973 - Nigerian government takes a stake in theventure. Over the coming years, the government increases itsstake and BP exits.

1979 - The Shell Petroleum Development Company of Nigeria(SPDC) is established, incorporating assets of the olderShell-BP consortium. Over time, the Nigerian National PetroleumCorporation comes to own 55 percent, Shell owns 30 percent,France’s Total owns 10 percent and Italy’s Eni 5 percent. Shellremains the operator.

1990 - The Movement for the Survival of the Ogoni People(MOSOP), led by firebrand environmental rights activist KenSaro-Wiwa, starts campaigning for a fairer share of oil wealthfor the Ogoni people living on oil fields and compensation forenvironmental damage.

January 1993 - MOSOP organises protests of around 300,000Ogoni people against Shell and oil pollution. Nigeria’s militarygovernment occupies the region.

April 1993 - Shell forms Shell Nigeria Exploration andProduction Company Limited (SNEPCo), which signs ProductionSharing Contracts to develop offshore oil and gas interests.

1993 - Shell ceases production in Ogoniland.

November 1995 - Saro-Wiwa and eight other MOSOP leaders areexecuted by Sani Abacha’s military government on alleged murdercharges, to worldwide horror. Nigeria is suspended from theCommonwealth.

Late 1990s - Over time, Shell's focus shifts to offshoreexploration, where it enjoys better margins and fewer threats ofattack by militants.

October 2003 - SPDC pumps more than 1 million barrels of oilper day.

2005 - Shell starts production at the giant Bonga offshorefield.

2006 - Militant group MEND (Movement for the Emancipation ofthe Niger Delta) emerges and begins to attack Shell facilities.Like MOSOP it seeks a great share of oil wealth for the Delta’speople and remediation for oil spills. SPDC pump stations andplatforms in Niger delta are attacked and production falls.

2008 - Two large spills, a result of operational faults, hitthe community of Bodo in Ogoniland in the Niger Delta. Tens ofthousands of barrels of oil are spilt.

January 2010 - SPDC sells some onshore fields and says it isno longer looking to Nigeria for growth.

April 2011 - Shell and Italy's Eni acquire oil productionlicence (OPL) 245, a large offshore field, for $1.1 billion fromlocal company Malabu.

August 2011 - A U.N. report criticises Shell and theNigerian government for contributing to 50 years of pollution inOgoniland which it says needs the world’s largest oil clean-up,costing an initial $1 billion and taking up to 30 years.

March 2012 - A group of 11,000 Nigerians from Bodo,Ogoniland, launch a suit against Shell at the London High Court,seeking tens of millions of dollars in compensation for the 2008oil spills.

January 2013 - A Dutch court rules that Shell could be heldpartially responsible for pollution in the Niger Delta, sayingthe company should have prevented sabotage at one of itsfacilities. Four Nigerians and Friends of the Earth filed thesuit originally in 2008 in the Netherlands.

January 2015 - Shell accepts liability for the Bodo spills,agreeing to pay 55 million pounds ($83 million at the time) toBodo villagers and to clean up their lands and waterways.

May 2018 - Court case against Shell and Eni over the 2011OPL 245 acquisition starts in Milan. Nine current and formerexecutives and contractors, including ENI Chief ExecutiveClaudio Descalzi, are accused by Italian prosecutors of payingbribes to secure the license.(Reporting by Ron Bousso; Editing by Sonya Hepinstall)

More News
20 Oct 2023 09:36

LONDON BROKER RATINGS: Barclays cuts Just Eat Takeaway price target

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
19 Oct 2023 12:10

LONDON MARKET MIDDAY: Conflict worry and bond sell-off hurts stocks

(Alliance News) - Stock prices in Europe were lower heading into Thursday afternoon, with the fear that tensions between Israel and its Middle Eastern neighbours could reach a boiling point.

Read more
16 Oct 2023 16:53

LONDON MARKET CLOSE: Europe boosted by bullish open in New York

(Alliance News) - European equities found their groove in afternoon dealings, supported by a decent start in New York, with the lack of an escalation in Middle East tensions enough for investors to buy into equities again.

Read more
16 Oct 2023 12:03

LONDON MARKET MIDDAY: Stocks mixed on conflict and US earnings nerves

(Alliance News) - Global markets got off to a muted start to the week, with tensions in the Middle East, and some trepidation ahead of US corporate earnings keeping a lid on equities.

Read more
16 Oct 2023 08:51

LONDON MARKET OPEN: Stocks steady as eyes on oil, Israel, US earnings

(Alliance News) - Stock prices in London made little headway at Monday's market open, as the prospect of escalation in the Middle East prompted investors to be cautious.

Read more
13 Oct 2023 17:08

LONDON MARKET CLOSE: Stocks red as rate fears weigh on investors

(Alliance News) - Stocks closed lower on Friday in London as investors looked increasingly risk averse amid an expectation that interest rates will stay higher for longer and clashes continue in the Middle East.

Read more
13 Oct 2023 17:00

LONDON MARKET CLOSE: Stocks lower as conflict and rate fears weigh

(Alliance News) - Stocks in London ended in the red on Friday as escalating tensions in the Middle East and the prospect of interest rates staying higher for longer put investors in a firmly risk-off mood.

Read more
13 Oct 2023 16:45

London close: Stocks finish lower on global stability concerns

(Sharecast News) - London stocks ended on a downbeat note on Friday after a hotter-than-expected US inflation print overnight, and escalating oil and gas prices fuelled anxiety across the board.

Read more
13 Oct 2023 08:52

LONDON MARKET OPEN: FTSE 100 resilient amid downbeat global trading

(Alliance News) - Stock prices in London opened mixed on Friday, as investors continued to digest a stubborn US inflation print and the latest series of economic data from China.

Read more
12 Oct 2023 16:54

LONDON MARKET CLOSE: FTSE 100 withstands selling pressure after US CPI

(Alliance News) - Stock prices in Europe closed mixed on Thursday, ending off session highs as equities in New York came under pressure following a more robust than expected US inflation reading.

Read more
12 Oct 2023 16:02

London close: Stocks mixed as US inflation comes in slightly hot

(Sharecast News) - London markets ended with a mixed outcome on Thursday, as investors digested a fresh inflation reading out of the US, as well as a slight uptick in the UK economy.

Read more
12 Oct 2023 12:07

LONDON MARKET MIDDAY: Stocks rise ahead of US inflation reading

(Alliance News) - Stock prices in London were on the up heading into Thursday afternoon, as rising Crude prices supported oil majors, and developments in China lifted miners, while the pound gave back some progress against the dollar ahead of a key US inflation.

Read more
11 Oct 2023 14:34

Broker tips: BP, Rio Tinto, Hochschild Mining

(Sharecast News) - Barclays said on Tuesday that it expects a positive reaction to the ongoing BP capital markets day.

Read more
11 Oct 2023 13:53

Barclays continues to see 'material upside' in BP to 1,000p a share

(Sharecast News) - Barclays said on Tuesday that it expects a positive reaction to the ongoing BP capital markets day.

Read more
11 Oct 2023 11:00

Oil major BP reaffirms climate goals following change at top

(Alliance News) - Murray Auchincloss, the interim chief executive officer of BP PLC, on Tuesday said the oil major's "net zero ambition" is unchanged since he took over the helm.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.