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A Study of Shell Oil and its Stakeholders in Nigeri - Research Paper Example
Author : edmundveum
Finance & Accounting
Pages 16 (4016 words)
Shell is a vertically integrated company where in upstream, it is engaged in exploration of crude oil and natural gas reserves, and development of projects through new technology. In downstream, it is engaged in refining, supplying, trading and transportation of crude oil worldwide…
It manufactures and markets a range of petrochemical products for industrial customers. The company is also engaged in delivery of technology solutions through research and innovation. Shell operates in 90 countries, employs approximately 93,000 people worldwide, 43,000 service stations, and has more than 30 refineries and chemical plants including 3.3 million barrels of gas and oil production per day. In 2010, the company spent $2.1 billion in development of alternate energy sources and carbon emission controls, $13 billion on purchases from companies from lower income countries, and more than $21 million on voluntary social investments (Shell, 2010). Shell Group is involved in the on-shore production of oil and gas in the Niger Delta. It is also involved in the offshore production of oil and gas in Gulf of Guinea and Nigeria’s first ever deep-water project. The energy from the Shell-operated Nigerian ventures is used for the country’s industrial and domestic use. The remaining is exported to Europe, US and Asia. Shell Petroleum Development Co. under the Shell Group employs about 90% of Nigerians in the region and provides 95% of the profits from on-shore production in the Delta to the Nigerian Government. The company also employs around 35,000 third party contractor staff (Shell-a, n.d.).