Shell, AFC, seven Nigerian banks battle Aiteo over $2 billion loan

The claimants say Aiteo has failed to pay back $2 billion it borrowed from them, but the oil firm claims no responsibility after declaring force majeure. A high court in England has ruled that Shell Plc, Africa Finance Corporation, and seven Nigerian…

Shell: ‘We’ll prove we can make money in renewables’

Finance chief says oil and gas giant will deliver ‘competitive and attractive returns’ from energy transition Shell won’t sacrifice “value for volume” while it proves its credentials as a leading player in the global power sector, said the oil and…

Shell signs $200m with UBA to help local contractors access project finance

Royal Dutch Shell Plc’s Nigerian unit agreed a $200 million deal with United Bank for Africa Plc to help its local vendors and suppliers access project finance. According to Bloomberg, the latest deal brought Shell’s Nigerian contractor support fund to $2.4…

FG to cut stakes in JV with Shell, Chevron, others

The Federal Government plans to cut its stakes in joint oil ventures with international oil companies to 40 per cent this year, the Minister of Budget and National Planning, Senator Udo Udoma, has said. The government is pushing ahead with…