Total developing projects as Shell sales show IOCs views diverge

International Oil Companies (IOCs) playing in the Nigerian oil and gas space are showing divergent views on the attractiveness of assets as some are moving on with developments while others divest.

Royal Dutch Shell Plc , Europe’s largest oil company, said yesterday it is advancing plans to sell four fields in Nigeria, to meet a $15 billion asset-sales plan, even as French Oil major Total told BusinessDay that it was moving ahead with projects in the country, despite the uncertainty from the late passage of the PIB.

Shell Petroleum Development Co. of Nigeria Ltd. said assets under consideration for sale are OMLs 18, 24, 25, 29 and the Nembe Creek Trunk Line, although the process has not yet concluded.

The Anglo-Dutch company and partner, Eni SpA  are close to selling the Nigerian assets for about

FDIs into Nigeria drop to $5.6bn in 2013

Foreign direct investments, FDIs, into Nigeria fell from $7.1 billion in 2012 to $5.6 billion in 2013, as a result of divestments by the International oil companies,IOCs, said the United Nations Conference on Trade and Development, UNCTAD.

In its latest World Investment Report 2014, UNCTAD said that Nigeria led West Africa’s 14 percent fall within the period, which amounted to $14.2 billion.

In Southern Africa, flows almost