Delays forseen in sale of Shell assets in Nigeria

Delays forseen in sale of Shell assets in Nigeria

Shell, has said that it may take up to a year for it to complete the planned sale of its oil assets in Nigeria.
It also said that the process may be complicated by the upcoming Nigerian general election in 2015.
The Chief Financial Officer (CFO) of Shell, Simon Henry, disclosed these in a conference call to investors Wednesday.
Shell is hoping to make $15 billion in disposals of its oil assets worldwide this year as well as next year, including the sale of its stake in four oil blocks in the Niger Delta, an area that holds a large share of Nigeria’s 37 billion barrels of oil reserves. “We can come to a good commercial agreement,” Reuters quoted Henry as stating.

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