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Finance

Shell completes sale of Nigerian onshore subsidiary SPDC

Published by Global Banking & Finance Review

Posted on March 13, 2025

1 min read

· Last updated: January 24, 2026

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Shell completes sale of Nigerian onshore subsidiary SPDC

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Shell Concludes Sale of Nigerian Onshore Subsidiary SPDC

(Reuters) - Shell said on Thursday it had completed the sale of its Nigerian onshore subsidiary, Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance.

Renaissance, a consortium of five firms comprising four Nigerian exploration and production companies and an international energy group, now controls a 30% stake in the SPDC joint venture.

(Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by Mohammed Safi Shamsi)

Key Takeaways

Shell has sold its Nigerian onshore subsidiary SPDC.
Renaissance consortium now holds a 30% stake in SPDC.
The consortium includes four Nigerian companies and one international group.
This sale marks a strategic shift for Shell in Nigeria.
The transaction was reported by Rajveer Singh Pardesi.

Frequently Asked Questions

What is the main topic?

The main topic is Shell's sale of its Nigerian onshore subsidiary SPDC to the Renaissance consortium.

Who bought Shell's Nigerian subsidiary?

The Renaissance consortium, which includes four Nigerian companies and an international energy group, bought the subsidiary.

What stake does Renaissance hold in SPDC?

Renaissance now controls a 30% stake in the SPDC joint venture.

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