Subscribe free to our newsletters via your
. GPS News .




OIL AND GAS
Shell takes further steps away from Nigeria
by Daniel J. Graeber
Abuja, Nigeria (UPI) Mar 26, 2015


disclaimer: image is for illustration purposes only

The Nigerian subsidiary of Royal Dutch Shell said it made further progress in its divestment strategy by selling Niger Delta assets from $1.7 billion.

Shell Petroleum Development Co. of Nigeria said it completed the sale of oil mining lease 29 and the 62-mile long Nembe Creek pipeline to Aiteo Eastern E&P Co., a Nigerian company.

"This divestment is part of the strategic review of SPDC's onshore portfolio and is in line with the federal government of Nigeria's aim of developing Nigerian companies in the country's upstream oil and gas business," the Dutch supermajor said in a Wednesday statement.

Shell last week sold its stake in oil mining lease 30 to a separate rival for $737 million.

Divested fields produced around 43,000 barrels of oil per day for Shell last year. Infrastructure sold to Aiteo was commissioned in 2010 to deliver Nigeria's Bonny light crude oil to process terminals.

Shell said the terminal itself was not part of the transaction with its Nigerian counterpart and remains in the hands of the Dutch supermajor.

Amnesty International expressed frustration with Shell and its Italian counterparts at Eni over the legacy of oil spills in the Niger Delta region. The rights group said the two companies combined to report more than 550 spills in the area last year.

Shell in 2013 said the rising operational challenges in Nigeria, including theft of crude by organized gangs and pipeline vandal attacks, had eroded its profit margin by $250 million.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
Chinese demand for Russian oil holds steady
Beijing (UPI) Mar 25, 2015
Demand for Russian crude oil in the Chinese economy is expected to hold steady, despite economic faltering in both countries, a Chinese trader said Wednesday. Chinese officials are describing a "new normal" in an economy slowing from a long period of double-digit growth. For Russia, sanctions pressure in response to crises in Ukraine and the decline in crude oil prices is pushing the co ... read more


OIL AND GAS
China imposes new curbs on Norway salmon imports

Neither more food nor better food -- still, fish biomass increases

Olive tree disease in Italy alarms EU

Dairy industry making strides toward reducing its carbon footprint

OIL AND GAS
Quantum computing: 1 step closer with defect-free logic gate

A new way to control light, critical for next-gen of super fast computing

Optical fibers light the way for brain-like computing

KAIST develops ultrathin polymer insulators key to low-power soft electronics

OIL AND GAS
India receiving upgraded Mirage fighters

Sikorsky, Polish subsidiary sweeten helicopter contract bid

LEAPTech to Demonstrate Electric Propulsion Technologies

Malaysian firm building additional Hawk aircraft pylons

OIL AND GAS
Uber ramps up safety efforts after criticism

Pirelli boss attacks 'nationalist' China deal critics

Chinese takeover of Pirelli met with resignation in Italy

Hidden benefits of electric vehicles revealed

OIL AND GAS
China denies seeking veto power in new bank

EU slaps anti-dumping duties on China, Taiwan steel

Cheap eurozone takeaway fuels Chinese appetites

'Made in China' tops EU list of unsafe products

OIL AND GAS
Conifers' helicoptering seeds are result of long evolutionary experiment

Protected areas in Indonesia ineffective in preventing deforestation

Isolated tribe ventures out of threatened Peru forests

Post-fire logging can reduce fuels for up to 40 years

OIL AND GAS
New NASA Mission to Study Ocean Color, Airborne Particles and Clouds

NASA spacecraft in Earth's orbit, preparing to study magnetic reconnection

NASA launches satellites to track 'magnetosphere'

NASA's Soil Moisture Mapper Takes First 'SMAPshots'

OIL AND GAS
NC State researchers create 'nanofiber gusher'

Click! That's how modern chemistry bonds nanoparticles to a substrate

Nanospheres cooled with light to explore the limits of quantum physics

An improved method for coating gold nanorods




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.