Syenite: Well, our National Oil company is capable of buying over these assets. Soon the NPDC will take full operatorship. Good for Nigerians.

Op how u take do am? While it took some threads 3yrs to make front page, it took urs just minutes. God will answer my prayers in minutes o. Amen.

Our "national oil company" already owns the fields. It is is already 60% owned by nnpc, shell is only the operator and owns 30%

What will happen to their onshore staffs if they decide to sell the oil fields? I hope selling the oil fields will not .make their employees working in those sector loose their jobs. My thought though.

it could be that they have exhausted our oil reserves and getting out with profits.

I believe FG will take over the production of TOTAL OML58 UPGRADE next year april when the project will come to an end.

[quote author=jpphilips][/quote]

I hope you know you wasted your time trying to educate that dolt.Rational reasoning is a concept alien to that fellow.

EGRESS: What will happen to their onshore staffs if they decide to sell the oil fields? I hope selling the oil fields will not .make their employees working in those sector loose their jobs. My thought though.

Employees will loose their jobs but some of them don't mind actually. For the full staff the job loss comes with a lot of money.

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Bede2u: If shell and the other big oil companies leave (or significantly reduce dia assets in) Nigeria, it would spell doom for our unemployed workforce and further deepen d fuel scarsity in d country as indeginious firms would only bastardise d sector. We better find ways to entice them to stay!

Don't agree. There are indigenous oil companies in the upstream sector that are doing well.

Shell International is not the saviour or ruler of the Nigerian oil industry. So how does their divesting from just 4 oil fields spell doom for the industry, if other buyers are available & willing to take them over? Are those new companies, not going to hire Nigerian workers to carry out exploration activities in those oil fields, just like Shell would have done?

Fuel scarcity has more to do with our importation schedule by government officials, and the ineptitude of our refineries rather than any action orchestrated by Shell.

Please enlighten yourself about the way the upstream & downstream sector of the oil industry is run, before you pass comments on these kind of threads...

laudate:

Don't agree. There are indigenous oil companies in the upstream sector that are doing well.

Shell International is not the saviour or ruler of the Nigerian oil industry. So how does their divesting from just 4 oil fields spell doom for the industry, if other buyers are available & willing to take them over? Are those new companies, not going to hire Nigerian workers to carry out exploration activities in those oil fields, just like Shell would have done?

Fuel scarcity has more to do with our importation schedule by government officials, and the ineptitude of our refineries rather than any action orchestrated by Shell.

Please enlighten yourself about the way the upstream & downstream sector of the oil industry is run, before you pass comments on these kind of threads...

That's your opinion. Indigenous companies and foreign companies should work side by side in a key sector like oil. Not one leaving and one taking over. Dats not growth. But just cos u don't agree with my opinion doesn't mean u should end ur comments with all but calling me an ignoramus. Are we quarrelling? Or are u some NNPC chairman that knws it all?

Bede2u:
That's your opinion. Indigenous companies and foreign companies should work side by side in a key sector like oil. Not one leaving and one taking over. Dats not growth. But just cos u don't agree with my opinion doesn't mean u should end ur comments with all but calling me an ignoramus. Are we quarrelling? Or are u some NNPC chairman that knws it all?

Hello, please point out where I called you an ignoramus. What quarrel are you referring to? Oh, is it because I asked you to enlighten yourself? Kindly clarify.

Does the fact that Shell divested from just 4 blocks, now mean that one company is leaving?
Or does divesting from 4 oil blocks, mean that Shell is divesting from Nigeria as a whole? Has Shell told you that it is divesting totally from this country? Let us know.

According to the press, it appears Shell is only divesting from the fields it has on-shore, but would continue its exploration activities in the wells it still owns, that are located off-shore. Reasons for the divestment (according to The Guardian of London), are: "firstly, reduce its exposure to troublesome onshore Nigeria; second, cut its net capital expenditure spend; and third, increase the free cash it can spend on share buybacks and dividends, all of which we believe the market will like."

Shell poised to sell four oilfields and a pipeline in Nigeria
Oil spills, sabotage and theft prompt £3bn sale but group still faces legal cases relating to pollution
By Terry Macalister | The Guardian, Wednesday 27 August 2014 17.45 BST

... A spokesman for the Shell Petroleum Development Company of Nigeria said it would make a formal market announcement when it had completed the sales process.

But the oil company stressed that it was not abandoning the country. "Nigeria remains an important part of Shell's portfolio, where we will continue to have a significant onshore presence in oil and gas, and which has clear growth potential, particularly in deep-water and onshore gas. Shell has a history of over 50 years in Nigeria and remains committed to the country and to supporting the government of Nigeria in their plans for the oil and gas sector."

http://www.theguardian.com/business/2014/aug/27/shell-poised-sell-four-oilfields-pipeline-nigeria/print