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Nigeria oil enters unclear new era after Shell’s onshore asset sale

Energy‚ Oil and Gas Industry | intent | January 29, 2024 | Comment off

LAGOS/LONDON, Jan 29 (Reuters) – Shell’s exit from Nigeria’s onshore oil sector highlights risks oil majors face in Africa’s biggest exporter but has raised hopes that local firms could reverse the output decline from the Niger Delta, industry officials and analysts said.
Shell – which pioneered Nigeria’s oil industry – is the most prominent Western company to exit the Delta, a region blighted by pollution, oil theft and pipeline vandalism. Those issues have for years stymied investment – and throttled production and government finances.

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Climate and Security Issues Force Oil Majors to Leave Nigeria

Oil & Gas‚ Oil and Gas Industry | intent | December 20, 2023 | Comment off

Equinor, Exxon Mobil, Shell, and other oil majors have sold or are planning to sell their Nigerian assets to local companies.
The divestment trend, which has accelerated in recent years, is attributed to concerns over security in the Niger Delta and a global push towards cleaner energy.
Critics argue that these divestments may not lead to better environmental practices, as local companies taking over might have less stringent emissions controls.

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Oil and gas majors could still have earned $10tr after paying loss and damage share – Report

Oil & Gas‚ Oil and Gas Industry | intent | November 22, 2023 | Comment off

The top three emitters are Saudi Arabia’s Aramco, Russian government-owned Gazprom, the National Iranian Oil company, and the top investor-owned companies are ExxonMobil, Shell, BP and Chevron. The list also includes the company led by the president of this year’s international climate negotiations: the Abu Dhabi National Oil Company.

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Trinidad launches giant shallow-water auction

Oil & Gas‚ Oil and Gas Industry | intent | November 1, 2023 | Comment off

 Trinidad and Tobago has launched an oil and gas bid round with 13 shallow-water blocks on offer, Reuters reported on Wednesday. The 13 blocks are located on the continental shelf near producing concessions. According to Reuters, bids for the round will close on April 2, 2024. The offerings are more than double the country’s previous […]

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