SHELL AND TOTAL DELAY WEST AFRICA PROJECTS AFTER OIL PRICE ROUT

Royal Dutch Shell and France's Total have delayed multibillion-dollar offshore oil projects in west Africa as part of efforts to rein in costs and shore up cash flow following the collapse in crude prices.

Read more @ Financial Times Online

SHELL LOSES N23BN OVER INSECURITY IN NIGERIA

Royal Dutch Shell said yesterday that it lost $146 million, about N23.36 billion from insecurity in Nigeria, and from the impact of its divestment across the globe, among others, in the third quarter of 2014.

The company, in its third quarter 2014 financial statement released to the investing community, also stated that it is expecting $15 billion, about N2.4 trillion from its assets in the Niger Delta region of Nigeria.

Read more @ Vanguard

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.

Read more @ Businessday

SHELL OKAYS NIGERIAN ASSETS SALE

Royal Dutch Shell has signed the sale and purchase agreements for all the Nigerian oil assets it put up for sale following a 2013 review of its business in the country, a spokesman said on Tuesday.


The assets include oil mining leases 18, 24, 25, 29 and the Nembe Creek Trunk Line pipeline.

Read more @ The Punch

UAE EYES SHELL, BP, TOTAL PARTNERSHIP

United Arab Emirates Energy Minister Suhail Al Mazrouei said he hopes BP Plc, Royal Dutch Shell Plc and Total SA have “a good chance to compete” for concessions in the nation’s biggest onshore deposits of crude oil.

The three companies, together with Exxon Mobil Corp. and Portugal’s Partex Oil & Gas, were partners with Abu Dhabi, the UAE’s largest emirate, in a joint-venture agreement that expired in January.

Read @ The Punch