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Home > Finance > Shell completes sale of Nigerian onshore subsidiary SPDC

Finance

Shell completes sale of Nigerian onshore subsidiary SPDC

Published by Global Banking and Finance Review

Posted on March 13, 2025

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(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)

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