Oil and Pollution: A New Page Turns for Shell in Nigeria
Shell is selling off some of its historic activities in Nigeria. In particular, the Anglo-Dutch oil company is leaving the heavily polluted Niger Delta region in favour of a consortium of five companies that are buying its assets for a total of 2.4 billion dollars.
A major player in the global oil industry is pulling out of Nigeria. The Anglo-Dutch company Shell has just announced the sale of its subsidiary Shell Petroleum Development Company of Nigeria (SPDC), which carries out all its onshore and shallow-water operations in the West African country. Its assets have been taken over by Renaissance, a consortium made up of Nigerian companies ND Western, Aradel Energy, First E&P, Waltersmith and Poland’s Petrolin.
Photo courtesy of Keming Tan.