The Nigerian government has rejected Shell’s (NYSE:SHEL) proposed sale of its onshore assets in the country to Renaissance in a deal valued at ~$1.3B, The Africa Report said Monday.
The government expressed concerns over the buyer’s capability to manage Shell’s (SHEL) assets, underscoring Nigeria’s stringent new guidelines, according to the report.
Separately, Shell (SHEL) said Monday it plans to shut-in different sections of its 350-mile Zydeco oil pipeline system for maintenance for 3-4 days starting September 24, limiting flows of some light crude to Louisiana.
The Zydeco pipeline system, with a mainline capacity of ~375K bbl/day, has four segments and ships crude oil from Houston, Texas, to St. James, Louisiana.
The shut-in will reduce the amount of light crude such as Bakken crude, West Texas Light and West Texas Intermediate supplied into Louisiana, where it becomes a part of the Light Louisiana Sweet blend.
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