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Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion (12382 Views)

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Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by BreconHills(m): 1:50pm On Jan 16
InteliJ:
I think oil companies are now moving to sustainable energy

That's the new oil

Is petroleum engineering a viable course to study in big 2024? I don't think so.

But since time revealeth all things, we shall know 5 - 10 years from now.

You make a good point. But the argument of many countries including China is that the west used these fossil fuels to develop their nations so is it morally right to change the rules in midstream especially when the country's with these fuels are not yet fully developed?

I believe it is too early to call time on fossil fuels especially if there are ways in which tech can de-carbonize to some extent. If I was to think of studying petroleum engineering, I would be looking at transforming crude not simply doing away with it.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by BreconHills(m): 1:56pm On Jan 16
cucumbar:
Abeg, what will be the benefit of dangote refinery to the common man?
Apart from employing at most, 100k people, and maybe create business opportunities for some others, how will it alleviate the downward spiral of the economy?

This dangote refinery will not make fuel cheaper nor have any impact on the exchange rate.

I ask again, what positive impact will dangote refinery have on You the common man?

Not true.

It will have a significant effect on fx as importation will stop. Simple. The refinery will also earn fx from other countries. At the last count they had a significant number of sovereign off takers. A better priced naira will have a significant effect on inflation - especially the type caused by imports at high fx rates.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by naijamerican: 1:57pm On Jan 16
No sane person will remain in this zoo if you have the choice to evacuate

1 Like

Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by ivolt: 2:45pm On Jan 16
Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature
You are just deceiving yourself.
If the foreign oil companies business model was all about fraud.
That would mean the oil business itself is no longer profitable.
We know that is totally false.

I suppose you are one of those hailing Buhari when foreign investors started pulling out dollars.
You guys claimed they ran away because they are "kwarapt".
We are still seeing the results till date.

A company wilfully pulling out of what is essentially an oligopoly market
should raise serious alarm. Wars have been fought to retain such market.
Ignorance is no longer bliss.

1 Like

Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by okito: 2:52pm On Jan 16
Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature
While this is one of the reasons, I ll like to add that divesting of onshore assets by multinationals is not new and has been on for over 10 years now. Most of them have been giving up their onshore assets due to community disturbances and increasing cost of doing business relative to reserves; to focus on deep offshore assets. I was involved in the sale of Shell's OML 30 about 13 years ago, as part of this divestment drive.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by PROUDIGBO(m): 2:54pm On Jan 16
bro4u:
One Nigerian politician can buy that business

And they will....through proxies!
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by gaskiyamagana: 3:45pm On Jan 16
lexylaw09:
After all the atrocities they have committed. They're taking the easy way out.

That is effect of subsidy removal. They are part and parcel of Nigeria Oil Wealth Scam from allocation, exploration, exportation and importation.
Any NIGERIA who buys , except DANGOTE and other Hausa man building refinery in Akwam Ibom, will blame himself.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by drkrest(m): 4:55pm On Jan 16
InteliJ:
I think oil companies are now moving to sustainable energy

That's the new oil

Is petroleum engineering a viable course to study in big 2024? I don't think so.

But since time revealeth all things, we shall know 5 - 10 years from now.

You are spot on. Shell's decision was influenced by the emerging global energy transition i.e. shift from fossil fuels to renewable energy. It is projected that that low carbon emission will replace fossil fuel by 2040. Shell is famed for strategic foresight and scenario planning, the company understands that non-renewable energy will become less lucrative in the near term. In the western world, electric vehicles are literally replacing PMS-powered vehicles gradually.

1 Like

Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by Karlifate: 5:30pm On Jan 16
theamazonguru:


Hope you saw that what they are selling is just their on shore assets.
They ain't selling their offshore assets.

So they are still here.

They are only tired of the unfavorable environments on the shore (onshore).
Government policies
Host communities wahala
Pipeline sabotage
Environmental pollution sanctions etc

But offshore, all they do is drill, give the FG their own share via NNPLC (40%) then export the remaining.
Simple.

No mind dem.

Lotsa folks just love negative news headlines.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by Karlifate: 5:35pm On Jan 16
socialmediaman:
Only $1.3B? Is it that cheap, or worthless?

A "worthless" something won't have 1.3B Dollars worth attached to it.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by Karlifate: 5:35pm On Jan 16
Sunmolar:
Fraudulent companies may not survive this government

Gbas gbos everywhere grin grin
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by InteliJ(f): 5:37pm On Jan 16
drkrest:


You are spot on. Shell's decision was influenced by the emerging global energy transition i.e. shift from fossil fuels to renewable energy. It is projected that that low carbon emission will replace fossil fuel by 2040. Shell is famed for strategic foresight and scenario planning, the company understands that non-renewable energy will become less lucrative in the near term. In the western world, electric vehicles are literally replacing PMS-powered vehicles gradually.
I'm glad to know my thought is valid sir
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by victorVIC1(m): 5:54pm On Jan 16
Kukutente23:

So you bought the crap he is writing
That's the FreeStuffsNG dude
What is the business of Shell with Refined products
Does shell operate in the downstream?
Was it not same shell that supplied crude to Dangote refinery?
That dude is daft
Ignore him

Obviously he is. Anyone who thinks Nigerian economy is in good shape at its current state is obviously delusion

2 Likes

Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by 642akintoye: 9:48pm On Jan 16
All is wellBillionBillion Yi noniAll is wellBillionBillion Yi noni...
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by webizone(m): 10:09pm On Jan 16
freshkpomo:

Let's divide this country but some mumu say no. Una nor know say na because we too get diversity that why the leaders can mess with us. For this Benin when I dey so, of any politician Bleep up, na once we dey agree to vote against am because we are one people and it's much easier. But if you check Edo north, they always vote differently from us because their culture and religion still different. She'll don Bleep up well well for Nigeria and they ought to pay.

While one Edo woman for my compoundside say she no gree make we divide. I ask why, she said because Igbo people go dey oppress Bini (Edo) people.
Go YouTube and see Bini people creating channels to fight Igbo people wey no fight them, instead of tackling the real issues on ground.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by freshkpomo(m): 11:35pm On Jan 16
webizone:


While one Edo woman for my compoundside say she no gree make we divide. I ask why, she said because Igbo people go dey oppress Bini (Edo) people.
Go YouTube and see Bini people creating channels to fight Igbo people wey no fight them, instead of tackling the real issues on ground.


Well na Igbo people cause that one on themselves, why una go just sit down script map and attach people put behind their back like say them property when them want claim.

What igbos did go out men and women in Biafra war is still very fresh in memory, so benin would prefer to pitch with fellow niger delta majority.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by webizone(m): 11:42pm On Jan 16
freshkpomo:



Well na Igbo people cause that one on themselves, why una go just sit down script map and attach people put behind their back like say them property when them want claim.

What igbos did go out men and women in Biafra war is still very fresh in memory, so benin would prefer to pitch with fellow niger delta majority.

Well, as far as I know, it is up to the people of the lands you speak of to join whoever they want to join. And it better be fast, because now is red period. But instead of finding your way you dey there dey block another person, that is a no no.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by freshkpomo(m): 11:48pm On Jan 16
webizone:


Well, as far as I know, it is up to the people of the lands you speak of to join whoever they want to join. And it better be fast, because now is red period. But instead of finding your way you dey there dey block another person, that is a no no.


The igbos are actually the ones blocking their own way. Even your governors are all sold out, and secondly if you take just your 5 eastern States, there won't be a problem. Anyone who wants the join your Biafra and willingly write to you and you have them on board and not forcing them like slaves.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by jamesversion: 5:14am On Jan 17
aieromon:
Offshore production is the new game for IOCs. Let local companies manage the expectations of the oil producing communities, their insatiable needs and recurring oil theft.

Tony Elumelu is still struggling to manage OML 17.

https://businessday.ng/energy/article/nigerias-onshore-oil-output-dips-as-iocs-hold-sway-in-offshore/




There is no such thing as Oil theft. The lil belongs to the oil bearing communities just as gold belongs to Zamfara communities.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by Rolings: 5:21am On Jan 17
freshkpomo:

Let's divide this country but some mumu say no. Una nor know say na because we too get diversity that why the leaders can mess with us. For this Benin when I dey so, of any politician Bleep up, na once we dey agree to vote against am because we are one people and it's much easier. But if you check Edo north, they always vote differently from us because their culture and religion still different. She'll don Bleep up well well for Nigeria and they ought to pay.

Is Nigeria the Only diverse country?
Why are others working and Nigeria isn't.
Nigeria is just like Australia Canada even USA in terms of diversity but the question we should ask is why is Nigeria not working?

I have come to the conclusion that Nigeria is not working because of corruption and corruption thrives because there practically no social protection for citizens.
Why do people steal..... especially civil servants (not politicians) is because they have seen how retirees were treated in the past and don't want to fall victim so they steal to make provisions for their retirement.
Re: Shell To Sell Nigeria Onshore Oil Business For $1.3 Billion by Calitoscassius(m): 9:22am On Jan 17
Shell is not going anywhere, they are only selling their onshore whatever! Shell never leaves an oil produving country. If they stop drilling oil and selling petrol what da fork else are they alive for?


No local company can afford their $1.3billion and $1.1 billion price tag anyway, they d probarbly set up a new company unders Shell and sell to themselves again, grin claiming they sold to a local company, Shell are just allegedly as corrupt as Naigeria politicians, Shell may allegedly have being coniving with corrupt politicians in oil producing countries to cause and funds wars so they could take hold of crudes in these countries.

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