Tuesday, 5 November 2013

Shell to Sell Licences, Pipelines in Nigeria- PM News

Anglo-Dutch oil giant Shell said on Monday that it intended to sell some assets in Nigeria after announcing a slump in global profits blamed on oil theft and sabotage.

“Some licences are up for sale, this includes some pipelines. We have not confirmed the specific licences,” Simon Henry, Shell’s chief financial officer told AFP in an emailed statement.

No further details were disclosed about the sale but Henry added: “There is a lot of interest from Nigerian indigenous companies.

“We will divest the licences and operating responsibility for the pipelines, there is more than one, if we see a potential deal,” he added.

source: PM News

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