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Friday, Sep 6
Shell to negotiate with Nigerians for oil spill compensation
- Negotiations between Royal Dutch Shell (RDS.A, RDS.B) and lawyers representing 15K Nigerian villagers claiming compensation for two 2008 oil spills in the Niger Delta are set to begin next week, in a bid to end litigation against the company in the U.K.
- Shell is facing a lawsuit in London's High Court over the spills that polluted waterways of the Bodo fishing communities in the country's oil-rich Niger Delta; Shell's Nigerian subsidiary has admitted liability, but the two sides disagree on the size of the spills and how much compensation is due.
- The legal action is being closely watched by the industry and environmentalists for precedents that could have an impact on other big pollution claims against oil majors.