Shell completes sale of Nigerian onshore subsidiary SPDC
Published by Global Banking & Finance Review®
Posted on March 13, 2025
1 min readLast updated: January 24, 2026
Published by Global Banking & Finance Review®
Posted on March 13, 2025
1 min readLast updated: January 24, 2026
Shell has completed the sale of its Nigerian onshore subsidiary SPDC to Renaissance, a consortium with a 30% stake in the joint venture.
(Reuters) - Shell said on Thursday it had completed the sale of its Nigerian onshore subsidiary, Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance.
Renaissance, a consortium of five firms comprising four Nigerian exploration and production companies and an international energy group, now controls a 30% stake in the SPDC joint venture.
(Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by Mohammed Safi Shamsi)
The main topic is Shell's sale of its Nigerian onshore subsidiary SPDC to the Renaissance consortium.
The Renaissance consortium, which includes four Nigerian companies and an international energy group, bought the subsidiary.
Renaissance now controls a 30% stake in the SPDC joint venture.
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