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Shell to Sell Nigeria Onshore Oil Business for $1.3 Billion

By Laura Hurst

Shell Plc agreed to sell its Nigerian onshore oil business to a consortium of local companies for more than $1.3 billion, a historic shift in a crucial yet controversial part of the energy giant’s global operations.

If approved by the government, the deal would fulfill Shell’s long-term goal of extracting itself from a challenging operating environment in the Niger Delta. For decades, the company has been at odds with local communities over oil spills and accusations of human rights violations, something that increasingly clashed with its broader efforts to become cleaner and greener.

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