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FT: Shell receives 100-plus serious bids for its Nigerian onshore stake

Screen Shot 2014-02-10 at 16.29.29Article published on 2 April 2014 by Seeking Alpha

Royal Dutch Shell’s (RDS.A, RDS.B) plan to sell much of its onshore Nigerian production has been met with skepticism – with oil stealing rife in the Niger delta, who would buy? – but FT reports Shell has received more than 100 serious bids for its 30% stake in five blocks valued at $3B-$5B. A clean exit from the delta woes would be an early win for new CEO Ben van Beurden, whose ascent was aided by the massive oil theft that contributed to January’s profit warning.

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