Shell Secures Legal Victory in US Over $58M Nigeria Lawsuit

Shell plc (SHEL) has achieved a notable legal victory as the U.S. District Court for the Southern District of New York dismissed a $58 million lawsuit filed by Nigerian contractor Forstech Technical Nigeria Limited against The Shell Petroleum Development Company of Nigeria Limited (“SPDC”), now operating as Renaissance Africa Energy Company.Although SHEL has a great operational strength, the rising risks related to macroeconomic conditions, geopolitical scenarios, and regulatory and legal pressure can have ...