Shell Exits Nigeria's Onshore Oil to Focus on Offshore Projects [Yahoo! Finance]
ENI S.p.A. (E)
US:NYSE Investor Relations:
eni.com/en_it/investors.page
Company Research
Source: Yahoo! Finance
This $1.3 billion transaction, previously held back by regulators, is part of Shell's broader strategy to streamline its operations by exiting onshore oil production in the Niger Delta and focusing on offshore deepwater and integrated gas projects. The SPDC joint venture includes 15 onshore and three shallow-water oil mining leases, which have long faced environmental and operational challenges such as oil spills and community disputes. By selling its stake, Shell aims to resolve these issues while reinforcing its commitment to deepwater projects. The SPDC Joint Venture is held jointly by Nigerian National Petroleum Co. Ltd. owning a 55% stake, TotalEnergies SE TTE owning a 10% stake and Eni S.p.A. E holding the remaining 5% stake. The 30% stake previ
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E
Sec Filings
- 3/19/25 - Form 6-K
- 3/6/25 - Form 6-K
- 3/4/25 - Form 6-K
- E's page on the SEC website