SHELL AND EXXON TO COMPENSATE DUTCH EARTHQUAKE VICTIMS
By: MICHEAL KAUFMAN: Sep 3, 2015
A Dutch court has ruled that Nederlandse Aardolie Maatschaapij BV (NAM), a joint venture of Exxon Mobil Corporation (NYSE:XOM) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A), must compensate those affected by the earthquakes near the Groningen gas field, one of the biggest natural gas reserves in the world.
The Dutch court found NAM responsible for earthquakes in the region. Wall Street Journal (WSJ) reported industry experts as saying that the pumping of the field has deflated the gas reservoir below the surface, causing pressure build-ups and sudden jolts in the area.
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