Energy giant Royal Dutch Shell has sold its stake in a set of oil wells and processing plants in Nigeria’s Niger Delta, the latest in a series of sales in an area where Shell has struggled with oil theft and other security issues.
Shell Midstream Partners LP opened at $32.01 a unit on Wednesday and was recently up 39% at $31.78. The company's initial public offering of 40 million units raised $920 million. Created by Royal Dutch Shell to own, run, and acquire pipelines and...
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Shell has now made sale and purchase agreements for four Nigerian oil blocks as violence and rampant oil theft in the Niger Delta have recently led foreign oil giants to sell their blocks to smaller, mostly local players.