Shell’s Nigerian Oil Fields Draw Interest from Local Firms
Royal Dutch Shell’s onshore oil fields in Nigeria have attracted interest from five local companies, Reuters reported Thursday, as the oil giant continues to divest interests. Read: Shell to Divest Nigeria’s Onshore Oil Stakes
The Nigerian firms are set to submit bids this month, the news agency reported, citing unidentified sources, who also said a sale could raise up to $3 billion.
Royal Dutch Shell has stakes in 19 oil mining leases through Shell Petroleum Development Co. of Nigeria, Nigeria’s onshore oil and gas joint venture.
The energy giant holds a 30% stake in the joint venture, while Nigerian National Petroleum Corp. holds 55%, TotalEnergies (TTE) has 10% and Eni (E) 5%, according to Reuters.
Shell’s US-listed shares were trading 2% higher in recent Thursday pre-bell activity. # Shell’s Nigerian Oil Fields Draw Interest from Local Firms
