NewStats: 3,263,986 , 8,182,161 topics. Date: Monday, 09 June 2025 at 07:51 AM m545s

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.

https://www.bloomberg.com/news/articles/2024-01-16/shell-to-sell-nigeria-onshore-oil-business-for-1-3-billion

Nawa o.

After all the atrocities they have committed. They're taking the easy way out.

All is well

Billion
Billion
Yi noni

Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

I no kuku understand..
The news wey me dey expect na news wey talk say 50kg of rice is now selling for 10k..

The transaction would fulfill Shell’s long-term goal of extracting itself from a challenging operating environment in the Niger Delta region.

I wanted to say something about this, but let me reserve my comment for now.

It's well.

Tinubu wee handuu economy,Shettibobo wee handuu security

Wetin E mean? Make who understand explain abeg.

One Nigerian politician can buy that business

ogododo:


https://www.bloomberg.com/news/articles/2024-01-16/shell-to-sell-nigeria-onshore-oil-business-for-1-3-billion

Okay

Let's divide this country but some mumu say no. Una nor know say na because we too get diversity that why the leaders can mess with us. For this Benin when I dey so, of any politician Bleep up, na once we dey agree to vote against am because we are one people and it's much easier. But if you check Edo north, they always vote differently from us because their culture and religion still different. She'll don Bleep up well well for Nigeria and they ought to pay.

The buyers' names should be listed in the dailies.
Transparency in this transaction is needed.

I think oil companies are now moving to sustainable energy

That's the new oil

Is petroleum engineering a viable course to study in big 2024? I don't think so.

But since time revealeth all things, we shall know 5 - 10 years from now.

A very sad day

SPDC sold but SNEPCO remains.

The divestment on land and swamp assets has been in the pipeline for several years so this isn't surprising.

SPDC has been sold to Rennaisance. The new major stakeholders in this group are ND Western, Aradel, Waltersmith group and Co.

I just hope the new owners don't act like typical wicked Nigerian employers 🙄

Their union should follow through on their struggle for severance packages with or without transition to the new owners.

Good they will now be owned by Locals. But we need to know who the locals are o

Offshore production is the new game for IOCs. Let local companies manage the expectations of the oil producing communities, their insatiable needs and recurring oil theft.

Tony Elumelu is still struggling to manage OML 17.

https://businessday.ng/energy/article/nigerias-onshore-oil-output-dips-as-iocs-hold-sway-in-offshore/

IOCs began abandoning onshore fields when sabotage of oil pipelines by vandals and oil thieves became a norm. The situation was made worse by NNPC’s inability to pay its share of costs for oil production.

“It is more profitable for IOCs to go offshore because the deeper the offshore, the more the stock oil. No community issues, less security threat, and most importantly the easy access to export the crude.”

“These land locations were doing well for Nigeria and were operated by the multinationals, until recently when too many community issues, pipe vandalism, and oil theft emerged. And upon this, you still pay charges to the government.”

Shell japa

The jungle don red

how much is the $1.2B if not for sapa

Stop use LOADNG for exchange


https://nairaland.unblockandhide.com/7899180/loadng-exchanger-paypal-scam#127967790

Shell to sell
Its oil well
And out of hell.
Oh ring the bell

How will that be of benefits for the common man on the street?
Somebody should please elucidate more

Only $1.3B? Is it that cheap, or worthless?

Well played

Every foreign company is exiting Nigeria. Wonderful.

Omo

........ Shell extracting itself from a challenging operating environment in the Niger Delta region.