BREAKING: Shell Agrees To Sell Nigerian Onshore Subsidiary, SPDC

BREAKING: Shell Agrees To Sell Nigerian Onshore Subsidiary, SPDC

Transaction will preserve the full range of SPDC’s operating capabilities

Shell will remain a major investor in Nigeria’s energy sector through its Deepwater and Integrated Gas businesses 

London, January 16, 2024 − Shell has reached an agreement to sell its Nigerian onshore subsidiary The Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance, a consortium of five companies comprising four exploration and production companies based in Nigeria and an international energy group.

Completion of the transaction is subject to approvals by the Federal Government of Nigeria and other conditions

Credit: X|Shell