Nigeria has approved a production-linked tax credit for Shell (SHEL.N) on the
$20bn Bonga Southwest Aparo deepwater project, people familiar with the matter
said. Under president-approved terms to push a final investment decision, Shell
and its partners will receive a tax rebate of $11.50 per barrel — more than
twice the standard amount. The incentive will be available to other majors for
new deepwater projects and will remain in place at least through 2029. The
measure is intended to boost oil output.
