nuOct 7, 2026, 16:16

NAM pays out large sums to Shell and ExxonMobil shareholders despite agreements

The NAM has distributed 1.43 billion euros to shareholders Shell and ExxonMobil, causing its solvency to fall below the 25 percent threshold agreed upon with the government. This financial buffer is essential for compensating earthquake-related damages in Groningen, prompting the government to consider potential legal action to protect those obligations.

The Nederlandse Aardolie Maatschappij (NAM) has distributed 1.43 billion euros to its shareholders, Shell and ExxonMobil, despite previous agreements with the Dutch government. This payout included a 1.36 billion euro additional request from the shareholders, causing the company's solvency ratio to drop below the 25 percent threshold established in 2018. This financial buffer was originally intended to ensure the company could adequately compensate residents in Groningen for earthquake damages caused by gas extraction activities.

Although the NAM claims the financial situation remains robust because it can reclaim the funds until September 2031, government officials remain concerned. Minister Heerma has indicated that legal action through an arbitration tribunal remains a possibility if the company fails to meet its future obligations. The government is monitoring the situation closely to ensure that the necessary resources for earthquake damage compensation are not permanently compromised by these corporate dividend payments.

Politics Economy Business Netherlands

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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