Wednesday 25 December 2013

Shell to Sell Off $2bn Assets in Niger Delta

Ejiofor Alike with agency report Royal Dutch Shell is to start the sale of $2 billion oil and gas assets in the Niger Delta in 2014 after weak refining margins and crude oil theft in Nigeria forced the profits of Europe’s largest oil company to tumble.

The $2 billion Niger Delta assets, according to JP Morgan, is part of the $30 billion (£18bn) assets the company would sell off next year after weak refining margins and oil theft in Nigeria caused a sharp fall in profits

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