- Commodity trading houses Glencore (GLCNF, GLNCY) and Mercuria are expected to make final bids on Nigerian energy assets worth ~$3B that Royal Dutch Shell (RDS.A, RDS.B), Total (TOT) and Eni (E) are selling, Reuters reports.
- Shell is selling its 30% stake in four oil blocks, while TOT and E are set to sell respective 10% and 5% holdings; Shell also seeks to sell the 60-mile Nembe Creek oil pipeline, which has been regularly attacked by oil thieves.
- The blocks' combined output averaged 90K bbl/day of oil and 60M cf/day of gas in 2012 and they hold reserves of 4.6B boe, according to a Shell report seen by Reuters.
Shell, Total, Eni Nigerian energy stakes could get ~$3B bid, Reuters says
Feb 12 2014, 11:44 ET