Market Chatter: Shell Makes New Condition of Latest Investments in Nigeria for Oil Asset Sale Approval in Niger Delta

MT Newswires Live12-20 19:54

Shell (SHEL) has made a condition of latest investments in Nigeria for approval of its oil asset sale in the Niger Delta, Financial Times reported late Thursday, citing unnamed people familiar with the matter.

The company, Nigeria's President Bola Tinubu, and his officials discussed the oil giant's intent to continue investing in the country, the FT added, citing three people having knowledge of the matter.

Shell also made clear its decision to exit the onshore assets and the Nigerian government assured that the company's exit deal would be approved, the people told the news outlet.

Shell did not immediately respond to MT Newswires' request for comment.

Shares of the company were down 1.1% in recent Friday premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 60.12, Change: -0.66, Percent Change: -1.09

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