FG Rejects $2.4 Billion Shell Assets Divestment To Renaissance

FG Rejects $2.4 Billion Shell Assets Divestment To Renaissance …C0NTINUE READING HERE >>>

The Nigerian government has declined to authorize Shell’s $2.4 billion divestment of its onshore and shallow water assets to the local consortium, Renaissance.

These assets encompass approximately 6.73 billion barrels of crude oil and condensate, in addition to 56.27 trillion cubic feet of gas.

Announcing the government’s decision, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, indicated that while five divestment applications had been processed, only four received approval.

Among the notable transactions that were…

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