Shell plc is a multinational oil and gas company founded in 1907, with its headquarters located in London, United Kingdom. Shell is an active operator in various oil and gas areas including production, refining, exploration, transportation, trading, and distribution, etc. In 1920, Shell was the largest oil producer in the world.
According to recent reports, Shell has agreed to sell its Nigerian onshore division, the Shell Petroleum Development Company (SPDC), to Renaissance. Renaissance is supposedly a conglomerate of 5 oil and gas exploration companies. This acquisition is reportedly pending approval from the Federal Government of Nigeria.
The report further mentions that Shell aims to streamline its deep water and integrated gas exploration activities in the country through this restructure.
