Why IOCs Are Divesting From Niger Delta - Stakeholders

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Some stakeholders in the Niger Delta region are of the strong opinion that the multinational oil companies (IOCs) operating in the region, were divesting

LEADERSHIP investigation revealed that there are fears that Dutch Appeal Court judgement could further open doors for more litigations against the oil companies, especially in their home countries.The IOCs had claimed that their reasons for divesting and heading offshore, was due to incessant sabotage of their facilities in the region, leading to loss of revenue to them and the Nigerian government.

Their chiefs have deserted the community as a result of the continuous spills in the Trans Niger Pipeline.“That is why they are divesting to the offshore so that if there is pollution, nobody will know that there is pollution; if they are pumping, nobody will know the amount of oil they are pumping, if they are drilling, the government cannot even attest to the amount of oil they are drilling. That is just the reason.

 

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