Shell Petroleum Development Company (SPDC) has revealed that the company and the Joint Venture (JV) partners paid $42 billion to the Federal Government within the period of 2011-2015.
According to a report released on the company’s website yesterday, Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration and Production Company (SNEPCo) paid $0.6 billion and $0.5 billion respectively as royalties and corporate taxes to the Government.
The report stated that the company spent a whopping sum of $0.9 billion on local contracting and procurement, and 93 per cent of its total contracts during the year under review to were awarded to indigenous firms.
The report also added that 94 percent of the employees in SCiN are Nigerian’s.
It added that the SPDC JV and SNEPCo contributed $62.3 million, to the $145.1 million paid to Niger Delta Development Commission (NDDC) in 2015.
It also said that the amount of gas flared by every cubic tonnes of oil and gas produced was cut down to 70 percent within the period of 2002 and 2015.
Shell Petroleum Development Company (SPDC) is the subsidiary of Royal dutch shell in Nigeria.It is the leading petroleum company in the Nation, with a domestic production estimated to be more than 30 percent of what the country uses.
However, on February the company issued a force majeure on its Forcados terminal in Delta State, due to the oil spillage and theft that took place at the terminal.