Monday, February 21, 2011

Nigeria: Shell Shortlists Industry Giants for Oil Blocks

This Day
20 February 2011

Nigeria: Shell Shortlists Industry Giants for Oil Blocks

The planned sale of some oil blocks belonging to Shell Petroleum Development Company and its foreign partners under the NNPC/Shell joint venture got underway in Shell's London office last Thursday with the opening of negotiations with four of the companies that bid for the oil blocks being offered for sale.

Negotiations between Shell and another batch of bidders, it was learnt, will continue tomorrow in London, following which the companies will be required to deposit 10 percent of their bid price in a designated escrow account.

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