Oil majors offered faster Nigerian exit if they pay for cleanup [Reuters]
TotalEnergies SE (TTE)
Company Research
Source: Reuters
take responsibility for spills rather than wait for authorities to apportion blame, the regulator said on Friday. Exxon, Shell, TotalEnergies, and Eni have all Nigeria's oil-rich Niger delta in recent years citing security concerns, including theft and sabotage, to focus on deepwater drilling. However, their exits have been delayed by regulatory hurdles. At a meeting with the companies in Abuja, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) chief Gbenga Komolafe offered a short-term option with faster approval if the companies commit to cleaning up spills and compensating communities. "We have the undertaking here. The consent here though fixed for June, could be much shorter," he said. "If you agree to take that option, you sign the undertaking knowing that there are obligations to be fulfilled," Komolafe said. Report this ad The second long-term option involves waiting for NURPC to identify and assign all liabilities, potentially delaying the final approval u
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TTE
Earnings
- 4/26/24 - Beat
TTE
Sec Filings
- 5/17/24 - Form SD
- 5/2/24 - Form 6-K
- 4/29/24 - Form F-3ASR
- TTE's page on the SEC website