Oil giant, Shell Plc has blamed the non passage of the Petroleum Industry Bill,for its misfortune and plans to build stronger investments in the country.
In its annual report for the year ended December 31, 2015, Shell said, “In our Nigerian operations, we faced various risks and adverse conditions, which could have a material adverse effects on our operational performance, earnings, cash flows and financial condition.
“These risks and conditions include: security issues surrounding the safety of our people, host communities and operations; sabotage and theft; our ability to enforce existing contractual rights; litigation; and limited infrastructure.”
The PIB, which has been delayed since 2008 when it was first introduced to the National Assembly and suffered serious setbacks in the 6th and 7th National Assembly.