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Why progress is slow on Shell's SPDC sale, the biggest oil deal of 2021/2022

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“The oil companies' quiet retreat from the Gulf of Guinea”

GULF OF GUINEA

The oil companies' quiet retreat from the Gulf of Guinea

Long considered an oil Eldorado thanks to the presence within the region of Africa's two leading oil producers, Nigeria and Angola, the Gulf of Guinea is declining. The inexorable rundown in its output -few if any new discoveries have been made recently in Gabon, Cameroon or Equatorial Guinea - and the fall in oil prices brought about by the Covid-19 pandemic have speeded up the retreat from the region in which the oil majors have been engaged for some years already.

The British-Dutch major is trying to sell its onshore business to concentrate on larger offshore fields. [...] (363 words)

Issue dated 10/11/2021 Reading time 2 minutes

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NIGERIA
Alex Orman
Covid-19
ENI
Heirs Holdings
Martin Folaye
ND Western
NNPC
Sahara
Seplat
Shell Petroleum Development Company of Nigeria Limited
Standard Chartered
Total

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Shell seeks rapid SPDC sale despite legal wranglings with NNPC

The British-Dutch major will find it hard to sell its Nigerian subsidiary, SPDC, which is owed $1.2bn by the NNPC and is in dispute with it for more than double that amount.

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Shell backs out of Gulf of Guinea as it turns to southern Africa

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Trident and Seplat battle Chappal for ExxonMobil stake

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OPL 245 closure boosts Shell confidence with UK courts

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Set up email notifications for these topics

NIGERIA
Alex Orman
Covid-19
ENI
Heirs Holdings
Martin Folaye
ND Western
NNPC
Sahara
Seplat
Shell Petroleum Development Company of Nigeria Limited
Standard Chartered
Total

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Why progress is slow on Shell's SPDC sale, the biggest oil deal of 2021/2022