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FG Considers Options on Divestment Plan by Shell

Ndubuisi Francis and Emmanuel Addeh in Abuja with agency report The federal government is weighing some options as discussions with Anglo-Dutch oil company, Shell Petroleum Development Company, begin over its plan for total divestment from onshore operations in Nigeria. The Minister of State, Petroleum Resources, Chief Timipre Sylva, yesterday in Abuja listed three possible options being considered as comprising a takeover of the company’s stake in the oil and gas industry by the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC); acquisition by indigenous operators and involving a mixture of local players and other foreign independent operators in the process.

Port harcourtNiger deltaNigeria generalAbuja federal capital territoryBen van beurdenNdubuisi francisTimipre sylvaAbubakar malamiEmmanuel addehNigeria onshore oilFederation account allocation committeePetroleum resourcesShell petroleum development companyCompany climate strategyRoyal dutch shell plcNational assembly

Fossil fuels divestment may halt $150b oil, gas projects

• Osinbajo canvasses equitable global energy transition for developing countries • Stakeholders raise fresh concerns over continuous dependence on hydrocarbon • Removal of subsidy, refinery rehabilitation, gas economy sacrosanct, minister insists Mounting global advocacy aimed at halting all-new Final Investment Decisions (FIDs) for fossil fuels, especially oil and gas may create serious hurdles for new fields development as over $150 billion worth of projects risk getting stranded in Nigeria. x Investments in new fossil fuel projects will need to stop immediately if the world is to limit global warming to 1.5 °C, the International Energy Agency (IEA) has said in what commentators have described as a stunning challenge by the historically pro-fossil fuel body.

France generalNiger deltaNigeria generalUnited statesSaudi arabiaAbuja federal capital territoryBayelsa stateTimipre sylvaMadaki amehExxonmobil bosiAdeola adenikinjuYemi osinbajoWunmi iledareFatih birolYinka omorogbeNnimmo bassey

Oil spills: Shell in talks with FG to divest onshore assets

Advertisement Ben van Beurden, chief executive officer of Shell, said this while speaking at the company’s annual general meeting on Tuesday. He said the oil giant can no longer be exposed to the risk of theft and sabotage in the Niger Delta. In January, a Dutch court Advertisement “We cannot solve community problems in the Niger Delta; that’s for the Nigerian government perhaps to solve. We can do our best, but at some point in time, we also have to conclude that this is an exposure that doesn’t fit with our risk appetite anymore,” he said. “We’ve drawn that conclusion, and we’re now talking to the Nigerian government on the way forward.”

Niger deltaNigeria generalTimipre sylvaBen van beurdenNigerian national petroleum corporationRoyal dutch shellNigerian petroleum development companyநைஜர் டெல்டாநைஜீரியா ஜநரல்பென் வேன் பெயர்த்தேன்நைஜீரியன் தேசிய பெட்ரோலியம் நிறுவனம்அரச டச்சு ஷெல்நைஜீரியன் பெட்ரோலியம் வளர்ச்சி நிறுவனம்

FG Considers Options, as Talks Begin over Shell s Divestment Plan

By Ndubuisi Francis The federal government on Tuesday revealed that it was weighing some options as discussions with Anglo-Dutch oil company, Shell, begin over its plan for a total divestment from onshore operations in the country. The Minister of State, Petroleum Resources, Timipre Sylva, who disclosed this in Abuja, said three possible options being considered include a take over by the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC); acquisition by indigenous operators, and involving a mixture of local players and other foreign independent operators in the process. The minister noted that while the federal government was in consultations with the oil giant on the divestment move, “some actually feel that Shell should not hurriedly divest and to at least stay,” adding that “where Shell has completely divested from a sector is not good for us.”

Abuja federal capital territoryTimipre sylvaNdubuisi francisNigerian national petroleum corporationNigerian petroleum development companyPetroleum resourcesகூட்டாட்சியின் மூலதனம் பிரதேசம்ண்துபுசி பிரான்சிஸ்நைஜீரியன் தேசிய பெட்ரோலியம் நிறுவனம்நைஜீரியன் பெட்ரோலியம் வளர்ச்சி நிறுவனம்பெட்ரோலியம் வளங்கள்

Nigeria needs at least 100,000MW to power economy —Elumelu

Nigeria needs at least 100,000MW to power economy —Elumelu
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