Nigeria’s move this round is pretty brutal: it’s returning $11.5 per barrel and directly locking Shell in until 2029. The tax incentives for traditional energy are even more tangible than Web3 air drops.

Bitcoin World news report: Shell has secured additional tax relief in a $20 billion Nigeria deepwater oilfield project. According to people familiar with the matter, Nigeria has approved production-linked tax credits for Shell and will also extend this incentive to other oil majors in the future in order to boost production. The terms approved by Nigeria’s president state that Shell and its partners will receive a $11.50 tax refund for every barrel of crude oil produced, an amount that is more than double the standard. The policy will last at least until 2029.