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Shell Analysis: $2.4bn Sale of Oil and Gas Subsidiary

Shell, a prominent British energy company, has reached a deal to sell its Nigerian onshore oil and gas subsidiary for up to $2.4 billion.

Shell sells Nigerian onshore oil business for $2.4bn, shifting towards cleaner energy. PHOTO: Shutterstock/Oil & Gas
Shell sells Nigerian onshore oil business for $2.4bn, shifting towards cleaner energy. PHOTO: Shutterstock/Oil & Gas

This move follows Shell’s long-standing presence in Nigeria, where it has faced various challenges, including oil spills, theft, and legal actions.

Shell has been operating in Nigeria since the 1930s but has experienced numerous environmental incidents and allegations of human rights violations.

Since 2021, the company has been seeking to divest its Nigerian oil and gas business,

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