Page 25 - Shell Plc News Today

Shell Plc has agreed to sell its Nigerian onshore oil and gas subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to a consortium

SHELL PLC - SHELL WILL REMAIN A MAJOR INVESTOR IN NIGERIAS ENERGY SECTOR THROUGH ITS DEEPWATER AND INTEGRATED GAS BUSINESSES ... -January 16, 2024 at 04:26 am EST - MarketScreener

Shell Plc has reached an agreement to sell its Nigerian onshore subsidiary, The Shell Petroleum Development Company of Nigeria Limited.

Shell Petroleum Development Company of Nigeria Limited (SPDC) will get up to $2.4 billion from the transaction including an initial sum of $1.3 billion.

An international human rights organisation, Amnesty International, has said that decades of oil spills from Shell Plc’s operations have damaged the health and livelihoods of many inhabitants of the Niger Delta region of Nigeria. Amnesty International’s Head of Business and Human Rights, Mark Dummett, said this on Tuesday while reacting to the report of Shell’s proposed sale of its Nigerian Onshore oil assets to a consortium of local companies for over $1.3 billion.

One major Wall Street bank is weighing in on what it calls "an extreme scenario" in which no Group-of-10 central bank cuts interest rates this year.

A second commercial ship was struck by a missile in the Red Sea in the space of 24 hours, and Shell Plc halted oil tanker transits through the waterway as Houthi militants retaliated against U.S. and UK airstrikes in Yemen.

"It's a very serious situation and seems to be getting worse," Chevron CEO Michael Wirth said of the crisis in the Red Sea.

A commodity-carrying ship was hit by a missile in the Red Sea as attacks intensify in a waterway that key industry groups say is too dangerous for navigati...

Oil edged lower after a choppy session as broader risk-off sentiment dampened reduced crude production in North Dakota and Red Sea risks.