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Shell Commences Major Divestment of Assets in Nigeria

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Royal Dutch Shell Commences Major Divestment of Assets in Nigeria

Emmanuel Addeh in Abuja JULY 31, 2021

Royal Dutch Shell has launched a major divestment of its Nigerian assets, especially those in the shallow water and onshore, several sources familiar with the matter said yesterday.

Sources close to the company disclosed that the oil giant had already hired Standard Chartered Bank to sell its Shell Petroleum Development Company of Nigeria Limited (SPDC) subsidiary, in deal which could be one of the hugest in the oil and gas industry in Africa ever.

When contacted, a Shell spokesman, who confirmed the talks, told THISDAY last night that although consultations were ongoing about the planned sale, they were still at the early stages.

“Discussions with the Nigerian government are ongoing on the next steps for our onshore business in Nigeria. We are in the early stages of reviewing the commercial options,” the shell official stated.

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