Sunday, March 3, 2024
HomeNEWSShell To Sell Nigeria Onshore Oil Business For $1.3 Billion

Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion

Shell Plc agreed to sell its Nigerian onshore oil assets to a consortium of local companies for more than $1.3 billion.

If approved by the government, the transaction would fulfill Shell’s long-term goal of extracting itself from a challenging operating environment in the Niger Delta region. Beyond the initial price tag, Shell said it will receive additional payments of as much as $1.1 billion.

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