Host Community Opposes Sale of OML 29

The host community to the Oil Mining Lease (OML) 29 has opposed the intention of the federal government to sell the oil block to interested buyers.

Anglo Dutch oil giant, Shell, has been offering several of its onshore oil assets for sale to interested buyers as part of global divestment strategy.

However, the host community to OML 29, Nembe Bassambiri, Bayelsa State, in a position paper on Tuesday, said it rejected any purported divestment or sale by the Shell Petroleum Development Company of Nigeria Limited (SPDC), Nigerian Agip Oil Company Limited (NAOC) and

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

Shell proceeds with global asset sales, sells some Nigeria oil fields

Shell last year put up for sale its 30 percent shares in four oil blocks in the Niger Delta.

Royal Dutch Shell has sold some of four oil fields up for grabs in Nigeria, it said on Wednesday, as the oil and gas company pushes ahead with global asset sales to cut costs.

Shell last year put up for sale its 30 percent shares in four oil blocks in the Niger Delta — Oil Mining Licence (OML) 18, 24, 25, 29 — as well as a key pipeline, the Nembe Creek Trunk Line.

“We have signed sales & purchase agreements for some of the Oil Mining Leases, but not all that we are seeking to divest,” a Shell spokesman said.

No details were available on the

Mexico awards 83% of oil reserves to state firm Pemex

The Mexican government has granted national oil firm Petroleos Mexicanos (Pemex) the rights to 83% of the country's proven and probable oil reserves, as part of a broad overhaul.

But Pemex will only get 21% of possible reserves, less than it had asked for.

Those are the areas where oil has not yet been discovered and which will require a greater degree of investment and exploration to fully exploit.

Mexico enacted new rules this week to open up the country's energy sector.

Private oil companies are now

Naira gains 0.19 percent on dollar sales by energy companies

The naira currency gained 0.19 percent on the interbank market on Wednesday, driven by dollar sales by major energy companies, Nigerian National Petroleum Corporation (NNPC).

The currency closed at 161.80 to the dollar, from 162.12 the previous day.

Chevron’s unit sold $60.7 million, Nigerian Liquefied Natural Gas (NLNG) sold an unspecified amount and NNPC asked lenders to bid for its usual dollar sale, prompting gains in