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Business Nigeria's Youngest Billionaire To Buy $2.5bn Oil Block from Shell


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Nigeria’s youngest billionaire and oil trader, Igho Sanomi 39-year-old is set to acquire Royal Dutch Shell’s highly productive oil block, Oil Mining License 29 (OML 29) for $2.5 billion as the company continues divesting its assets in Nigeria, Wall Street Journal says.

Excerpt:

Royal Dutch Shell has agreed to sell a productive Nigerian oil block to a consortium led by oil-trading firm Taleveras Group, say two people familiar with the matter.

Nigeria’s Taleveras will pay Shell more than $2.5 billion for the block, known as Oil Mining License 29, and an associated pipeline.

Shell has been working to sell several of its onshore Nigerian holdings, which for years have been plagued by leaks stemming largely from oil theft.

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#Nigeria #Shell #WallStreetJournal #Taleveras

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