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Shell Completes Sale of Two Nigeria Oil Blocks

Source: Reuters 11/13/2011, Location: Africa

Nigeria's state-oil company NNPC said on Sunday that two local firms had completed the purchase of 45 percent stakes in two onshore oil blocks, previously owned by Shell, Total and Eni.

First Hydrocarbon Nigeria, owned by Afren, bought a 45 pct stake in OML 26, NNPC said in a statement. A consortium led by local firm Nestoil is buying the 45 pct stake in OML 42, the state-run firm said.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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