SHELL SIGNS SALES AGREEMENTS FOR NIGERIAN ASSETS

Royal Dutch Shell has signed sales agreements for all the Nigerian oil assets it put up for sale following a 2013 review as part of its cost-cutting drive. The assets include Shell’s 30 percent stake in oil mining leases (OML) 18, 24, 25, 29 and the Nembe Creek Trunk Line (NCTL).

Shell has opted to move away from Nigerian onshore oil production, which is plagued by massive oil theft, security problems and oil spills and is also becoming a major source of legal liabilities.

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