Shell tied new Nigeria offshore investments to approval for oil asset sale

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The story "Shell tied new Nigeria offshore investments to approval for oil asset sale" was covered 21 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 21h ago

Shell tied new Nigeria offshore investments to approval for oil asset sale - Financial Times

Quick Summary:

One of the people close to the deal said Shell’s sale of its troublesome onshore assets to Renaissance “was important — don’t get me wrong.

Shell owns 30 per cent of the JV, alongside 55 per cent held by the state-owned Nigerian National Petroleum Company.

There were also worries over whether Renaissance could cover the bill for the clean-up of environmental damage across SPDC’s operations and whether those costs had been properly assessed by Shell.