A court in Italy has acquitted Eni and Royal Dutch Shell of corruption charges in oil scandal.
Oil spills have continued to constitute a source of environmental degradation in the NigerDelta over the years.
An Oil site operated by Royal Dutch Shell has been seized by Rivers State Government over an incident of oil spills.
Officials of SPDC have been accused of allegedly masterminding the damage to oil pipelines.
Eni S.p.A accuses both Nigeria and US investment firm of lack of transparency in its in a long-running dispute over a 2011 transaction.
Shell is seeking to cut 40% of operating costs in its upstream oil and gas.
The government of Nigeria has requested advance payment for damages in the Malabu oil scandal.
Shares of oil majors, BP and Royal Dutch Shell gained 3.4% and 2.7% respectively.
The company also announced that its upstream division had losses of $6.7 billion
Royal Dutch Shell has consistently pushed for the Dutch Government to stop taxes on dividends.