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Nigerian agencies seek $11.5 billion oil spill payout from Shell

Two Nigerian government agencies told a parliamentary hearing on Thursday that Royal Dutch Shell should pay a total of $11.5 billion (7.6 billion pounds) in compensation for damage caused by an oil spill at its offshore Bonga field in December 2011.

Shell has said that there is no legal basis for the proposed fines and the Nigerian government has never publicly charged foreign oil companies large sums for oil spills.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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