Oil giant, Shell, has reportedly initiated negotiations with local oil producers for selling two of its Nigerian oil licences in the Niger Delta, collectively worth $2 billion. The Anglo-Dutch petrochemical giant is in talks about selling its oil mining licenses 11 and 17, reports confirmed. Sources close to the matter revealed that the deal would involve selling essential infrastructure assets as well, including a natural gas-fired power plant that will be managed by Nigerian economist, Tony Elumelu’s company, Transactional Corporation of Nigeria PLC (Transcorp). They further disclosed that initially, talks between Shell and the local buyers were at an advanced stage, but faced complications due to lack of financing. As per records, the oil mining licence 17 falls within oil corporation NNPC/Shell joint venture and includes 15 oil and gas fields, out of which six are actively producing oil at the moment. Oil mining licence 11 is one of […]