Shell Agrees to Sell Onshore Nigeria Business for $2.4 Billion

Activists demand environmental cleanup before approval, while Shell plans to continue offshore and gas operations.

Shell has agreed to sell its onshore business in Nigeria’s Niger Delta to a consortium of companies, Renaissance, for $2.4 billion.
The assets being sold are largely owned by the Nigerian government’s national oil company NNPC, which holds a 55% stake.
Activists in the Niger Delta are asking the government to withhold its approval if Shell does not address its environmental damage.
Shell will continue its offshore energy drilling in Nigeria, as well as its liquefied natural gas operations there.
The sale is part of Shell's strategy to simplify its portfolio and focus its future investment in Nigeria on offshore drilling and liquefied natural gas.