Shell PLC has refuted rumors that it was planning to leave Nigeria following the sale of its Niger Delta onshore operations.
According to The PUNCH, Shell declared on Tuesday that it and Renaissance Africa Energy had “reached an agreement to sell its oil business in the Niger Delta, the Shell Petroleum Development Company of Nigeria Limited.”
Since then, the statement has sparked a range of responses on social media, with many people believing that Shell was leaving Nigeria.
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The SPDC’s disposal was in line with the company’s previously stated intention to “exit onshore oil production in the Niger Delta and to focus future investment in Nigeria on our Deepwater and Integrated Gas positions,” the Shell Nigeria media team told The PUNCH when contacted on Wednesday.
Shell stated that it aimed “to remain a long-term partner of Nigeria, supporting the country’s growing energy needs and export ambitions in areas that are aligned with our strategy,” in contrast to the implication made by others.
Shell revealed that, although not covered by the aforementioned SPDC transaction, it operated three other significant operations in Nigeria.
These are Shell Nigeria Gas Limited, which supplies gas to domestic industrial and commercial customers, Daystar Power Group, which offers integrated solar power to commercial and industrial enterprises throughout West Africa, and Shell Nigeria Exploration and Production Company Limited, which produces oil and gas in the deepwater Gulf of Guinea.
Furthermore, Shell revealed that it “possesses a 25.6% stake in NLNG, a company that generates and supplies LNG to international markets,” emphasizing that “Shell’s involvement in NLNG is additionally beyond the purview of this deal.”