Petroleum Profits Tax Act 1959

According to Shell Global (n.d.) one of the largest branches of Shell Company is Shell Petroleum Development Company (SPDC) in Nigeria which has joint venture with Nigerian Government’s Nigerian National Petroleum Corporation (NNPC). The ratios are divided in a method of 55% to Nigerian Government, 30% to Shell Company, 10% to ELF Petroleum Nigeria Ltd and 5% to AGIP. The operation of SPDC in Nigeria has added $38 billion to the Nigerian Government in the past five years (2007-2011) together with the taxes and royalty payments. The Nigerian Government receives 95% of its profit from SPDC onshore oil and gas production in Niger Delta. In relation to Shell Company’s relation following are some key aspects.

In Texas, there is an economic powerhouse that not only runs deep beneath fields of cotton, but also reaches miles beyond the green pastures of cattle. Its multitude of uses in daily life also far outweighs the benefits of technology. This resource, greater than any other in Texas, is oil. In 1866 the first commercial oil well was dug near Nacogdoches, Texas but unfortunately the well came up dry. Thirty years later in 1894 oil was discovered in Corsicana, Texas by accident while a water well was being dug. This was the first economically significant discovery of oil in Texas. On January 10, 1901, Texas was catapulted into the era of oil and gas with the discovery at Spindletop. The Spindletop well, located south of Beaumont produced roughly

The African rulers who signed the Royal Niger Company’s standard form (D1) received monetary compensation for turning over their land. They may have recognized the futility of trying to resist the British government and decided to make the most of it by complying with the terms of the contract. Or they may not have truly understood what they were signing, given language barriers. When the company pledged not to disrupt the laws and customs of the country, the wording it then inserted –“consistently with the maintenance of order and good government” is able to be used as a warning that effectively gives the company the latitude to do whatever it wants. Almost anything could be defined as interfering with “the maintenance of order …” and so the British were bound to trample all over the native customs of the Niger River delta. Document nine gives us important information. Finally, Mojimba’s description of a battle he witnessed indicates that it pitted Africans against not only the British but also African mercenaries, so there were some Africans who chose to help Europeans suppress African resistance, getting paid as soldiers for hire. Mojimba’s words are filled with hatred, for good reason. But they’re being told 30 years after the battle, and so they may not be precisely accurate because the passage of time

that benefit from fracking. Although these lands are still under the jurisdiction of the federal

Niger Delta region, placing the Nigerian oil output down to a third of its capacity” (Klare 3).

This report presents information regarding the industry, the primary operator of oil and gas field properties. The industry fuels its key buyers, the Natural Gas Distribution (22121) and the Petroleum Refining (32411) industries, with crude oil and natural gas. The industry continuously battles a shortage of available oil. In addition, many major oil fields have been in use for decades, slowly waning. Currently, the industry grosses among the most profitable in the US despite these and similar obstacles. The benefits of investing here

Kuwait is recorded to have the largest spill of oil in history measuring to about 1 million barrels. Oil spills around the world have caused major catastrophes. Therefore, the United States government have provided a policy to help prevent the devastations and protect the environment as God intended us to do. By learning the history of the Oil Pollution Act, how to help prevent the spills, and knowing how our environment can suffer from the tragedies are ways of learning how our government is involved in our society today. How does the Oil Pollution Act affect our environment?

Jonah Gbemre instituted a lawsuit on behalf of himself and the Iwhereken Community in Delta State, in the Niger Delta area of Nigeria against Shell Petroleum Development Company Nigeria Ltd, NNPC and the Attorney General of the Federation . Alleging violations of both constitutional provisions and those of the African Charter under the fundamental rights enforcement procedure in the Nigerian constitution, the Plaintiffs claimed that sections 33(1) and 34(1) of the constitution, their right to life and the dignity of the human person and articles 4, 16 and 24 of the African Charter had been violated by the oil exploration and production activities of Shell, which led to incessant gas flaring . In addition, the plaintiffs alleged that the continuous gas flaring by the MNCs had led to the pollution of the environment, exposing the community to the risk of premature death, respiratory illnesses, asthma and cancer . Their crop production was alleged to have been ruined by pollution thereby adversely affecting their food security . Furthermore, many of the natives were said to have died with many more were suffering from various illnesses causing the Plaintiffs to complain that the community had been left in a state of gross underdevelopment . One of the many grounds on which the defendants hinged their case, according to Amao, was that the quoted articles of the African Charter , under the Nigerian fundamental rights enforcement procedure, do not create enforceable rights . Due

Shell Oil company began oil exploitation in the Niger Delta region of Nigeria in 1956. It became evident that for the Ogoni, the environmental and social costs of oil exploitation would be painfully high. Beginning December 1992, the people of Ogoni issued a thirty-day demand notice to Shell, which raised the alarm bell of an after struggle between the company and the Ogoni people. This demand notice was followed almost immediately by series of non-violent activities including the Ogoni protest of January 4th, 1993, in what was regarded as Ogoni Day. In the light of the foregoing developments, by the first quarter of 1993, Shell withdrew from Ogoniland, citing the hostile attitude of the Ogoni community to the company’s activities. Around April of the same year, Shell, through its contractor, went back under the protection of the Nigerian military to construct an oil pipeline. This was met with peaceful protests by Ogoni women whose farmlands were to be traveled over by the pipelines, leading to the destruction of their crops without any compensation. Rather than deal with the issues that had been raised by the women, the military

Investors in oil and gas drilling programs seek a return on their investment through revenues produced by the wells drilled and through tax benefits associated with such drilling and production.

Petroleum is a nonrenewable resource created from deceased prehistoric animal and plant remains. This is accomplished over millions of years, in which variables of heat and pressure cause the remains to be transformed into hydrocarbons. The United States depends on oil for around 36% of its energy demand, of this about 71% is directed to transportation, 24% to manufacturing and industrial applications, 5% to commercial and residential areas. An interesting fact is that even though oil and gas are seen to dominate the transportation areas, they only represent a less than one percent stake in the generation of energy.

The creation of new states that was connected to the Niger Delta Region in 1967 gave a resurrection of hope to the many minorities in the region, yet sadly, even though the new state governments did its utmost best to grow and develop however was insufficient, particularly the complex of many ethnics groups to count on and in view of natural resources in some communities. In any case, a second endeavor at developing the region, which at this point has ended up synonymous with oil exploration and depletion was, nevertheless, made by the military President Ibrahim Babangida in 1992 when the Panel of the Oil Mineral Producing Area Development Commission (OMPADEC) was initiated.

Facts: Plaintiffs are residents of Nigeria, who claim that Dutch, British, and Nigerian corporations engaged in aggressive oil exploration and production, aided and abetted the Nigerian government in committing violations of the law of nations related to crimes against humanity and human rights abuses. Royal Dutch and Shell are parent companies incorporated in the Netherlands and the United Kingdom respectively; Shell Petroleum Development Company (SPDC) is incorporated in Nigeria. Since 1958, SPCD has conducted oil exploration and production in the Ogoni region of Nigeria. Protesting SPDC’s activities in the region, Ogoni

In 1958, oil was first discovered in Nigeria. The discovery has led to the transition from agriculture-based economy to that of oil economy. One would believe that a country that produces a numerous amount of oil used to support the world with energy would have improved domestic infrastructures and economic development. Unfortunately, this is not the case in Nigeria. Nigeria has suffered since the discovery of oil and is still suffering till this day. Not only has it created conflicts between other nations and Nigeria but it has also divided the country into groups, which has fueled civil wars and tension between the government and the people. This is why the topic is a geopolitical event but before trying to understand how it is geopolitical, one should understand what geopolitics is.

Most children in the Niger delta have little or no education, due to lack of funds from their parents who have lost their lands and have no jobs because of limited opportunities. The Niger delta government and the oil companies have refused to look into the situation; instead they favor their close relations neglecting the masses. Corruption in the Niger delta has led some youths in taking drastic measure in order to put food on their table. For example, Ikechukwu Efe an indigene of the Niger delta said that some of his friends created their own “oil refinery”, which is made up of crude oil in metal barrels with controlled heat from fire woods. This is a dangerous process in refining crude oil but the degree of poverty in the state left his friends with no choice. If only the government of the Niger delta have created jobs with the wealth of the state Ikechukwu’s friend would not have to put their lives in danger. Until corruption is put to an abrupt the people of the Niger delta will continue to live in poverty.