Shell shares subdued after oil pollution acquittal
City Index January 30, 2013 9:15 PM
<p>Shell shares have fallen after a Dutch court acquitted the company on four counts of pollution in Nigeria.</p>
Shares in Royal Dutch Shell have slipped on the Frankfurt Stock Exchange today (January 30th), after a court acquitted the oil giant on four out of five allegations of pollution in the Nigerian Niger Delta region.
However, the Dutch court found a subsidiary of the company, Shell Nigeria, responsible for one case of pollution, ordering it to pay compensation to one local farmer.
The case was brought about by four Nigerian agricultural workers and charity Friends of the Earth, which says it intends to appeal the decision, but welcomed the ruling that Shell Nigeria was liable on one count.
Shell's Allard Castelein stated: "We were never pleased with the court case in its own right but we are very pleased that the parent company is not liable under any of the complaints issued."
At 14:55 GMT on the Frankfurt Stock Exchange, Shell shares fell by 0.7 per cent to €26.85 per unit.
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