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Nigeria Approves Production-Linked Tax Credits for Shell's $20B Deepwater Project, $11.50 Per Barrel

2026-07-14 10:55:15

SHEL2.13%

According to sources familiar with the matter, Nigeria approved production-linked tax credits for Shell's Bangsa Southwest Aparo deepwater oil project on July 14. The incentive allows Shell and its partners to receive $11.50 in tax credits per barrel of crude oil produced—more than double the standard amount. Nigeria President also approved the measure to drive the project's final investment decision. The policy will extend to other oil producers' new deepwater projects and remain in effect through at least 2029.

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