NewsOnline Nigeria reports that Shell Plc has reached an agreement to sell its Nigerian onshore oil assets to a local consortium for over $1.3 billion, pending government approval.
This Nigeria news platform understands that Shell’s Integrated Gas and Upstream Director, Zoe Yujnovich, confirmed this in a statement on Tuesday, where he highlighted the significance of the deal, emphasizing the company’s focus on streamlining its portfolio and directing disciplined investments towards deepwater and integrated gas ventures in Nigeria.
This move aligns with Shell’s strategic objective to exit the challenging operating environment in the Niger Delta region. In addition to the initial sum, Shell anticipates receiving extra payments of up to $1.1 billion. The purchasing consortium, named Renaissance, comprises ND Western, Aradel Energy, First E&P, Waltersmith, and Petrolin.
Details Shortly…………..
Food palliatives cannot replace genuine development. While temporary relief may help vulnerable citizens survive difficult…
Everywhere we turn, the world appears to be bleeding. From Africa to Europe, conflict is…
APC Spokesman Felix Morka has mocked Peter Obi over ADC exit amid crisis. NewsOnline…
OPay is reportedly targeting $4bn valuation in planned US IPO push. NewsOnline Nigeria reports…
Peter Obi and Kwankwaso have officially joined NDC ahead of 2027 presidential race. NewsOnline…
Peter Obi has resigned from ADC over aalleged state agents infiltration of the party. …
