Shell Debunks Rumour, says "No plan to Exit Nigeria"

Shell PLC have denied speculations of leaving Nigeria after the sale of its onshore business in the Niger Delta.
Shell fuel tanker
Shell fuel tanker BBC

On Tuesday, Shell announced the sale of its oil business in the Niger Delta, the Shell Petroleum Development Company of Nigeria Limited, to Renaissance Africa Energy. The announcement triggered reactions on social media, with many suggesting Shell's exit from Nigeria.

Contacted on Wednesday, Shell Nigeria's media team explained that the divestment of SPDC aligned with its previously announced intent to exit onshore oil production in the Niger Delta and focus future investment in Nigeria on Deepwater and Integrated Gas positions.

Contrary to insinuations, Shell stated its intention to remain a long-term partner of Nigeria, supporting the country’s growing energy needs and export ambitions in areas aligned with their strategy.

Shell disclosed three other main businesses in Nigeria outside the SPDC transaction: Shell Nigeria Exploration and Production Company Limited, which produces oil and gas in the deepwater Gulf of Guinea; Shell Nigeria Gas Limited, providing gas to domestic industrial and commercial customers, and Daystar Power Group, offering integrated solar power to businesses across West Africa.

Additionally, Shell holds a 25.6% interest in NLNG, which produces and exports LNG to global markets, emphasizing that Shell’s interest in NLNG is outside the scope of this transaction.

Regarding the fate of current employees, Shell assured there would be no loss of employment. SPDC’s staff will continue to be employed by the company during the transition to new ownership.

Related Stories

No stories found.
logo
Latest Lagos Local News - Lagoslocalnews.com
www.lagoslocalnews.com