Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion

MOUTHPIECE NGR reports that Shell Plc has 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.