A Federal High Court in Lagos has adjourned till December 8, 2016 to hear a suit filed by the Federal Government against Shell Western Supply & Trading Ltd.
The government dragged the multi-national oil company before the court over alleged illegal crude oil exports.
The government accused Shell Western Supply & Trading Ltd of under-declaring the volume of crude oil it shipped out of the country between January 2013 and December 2014.
It alleged that the oil company short-changed it to the tune of $406.7m.
The scheduled hearing in the case was unable to continue on Thursday due to the absence of the presiding judge, Justice Mojisola Olatoregun.
The case was consequently adjourned till December 8, 2016.
In the suit numbered, FHC/L/CS/336/16, filed through its lawyer, Prof. Fabian Ajogwu (SAN), the Federal Government claimed to have uncovered the alleged illegal crude oil export by the defendant through a forensic analysis of the bills of laden and shipping documents of the defendant’s operations between 2013 and 2014.
The governnent’s forensic analysis was carried out by a consortium of experts it hired to track the global movements of the country’s hydrocarbons, including crude oil and gas.
According to the forensic analysts, Shell engaged in practices that led to missing revenues from crude oil and gas export sales to different parts of the world.
The Federal Government averred that its forensic experts revealed discrepancies in the export records of the oil company from Nigeria to ports in the United States of America.
The Federal Government claimed that it was short-changed by the defendant to the tune of $406.75m.
The government is requesting the court to compel Shell to pay the sum to it at the interest rate of 21 per cent.