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Shell To Divest Nigeria Onshore Oil Business For $1.3B

In a strategic repositioning, Shell agrees to sell its SPDC entity to Renaissance, a consortium combining Nigerian energy expertise with global insights. Awaiting Nigerian Federal Government's nod, this sale aligns with Shell's focus on Deepwater and Integrated Gas sectors. Post-sale, Shell ensures continued support for SPDC JV facilities, crucial for Nigeria's LNG production, marking a new chapter in Nigeria's energy landscape under experienced Nigerian-led consortium leadership.

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