Shell Petroleum Development Company of Nigeria Ltd (SPDC) has announced the suspension of its plans to sell its onshore oil assets in Nigeria, in compliance with a Supreme Court ruling, which said it had to wait for the outcome of an appeal over a 2019 oil spill.
This is according to a statement issued on Thursday and signed by the Managing Director of SPDC and Chairman of Shell companies in Nigeria, Osagie Okunbor.
“The Shell Petroleum Development Company of Nigeria Ltd (SPDC) complies with the law, including any court orders, and respects the judiciary and its role in upholding the rule of law.
“Recent media reports regarding the June 16 Supreme Court proceedings does not accurately reflect SPDC’s response to the order. SPDC will continue to comply with the Supreme Court’s order to maintain the status quo. We have a strong belief in the merits of our case, which we are vigorously defending.”
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In a separate statement, the London-based company said: “Shell welcomes the Nigerian Supreme Court’s decision to hear the appeal of Shell Petroleum Development Company of Nigeria Ltd in this case. Until the outcome of SPDC’s appeal, Shell will not progress the divestment of its interest in SPDC.”