Shell confirms sale of 16 assets

ROYAL Dutch Shell, weekend, confirmed plans to sell over 16 assets each worth more than $500 million.

Though the report had no mention of what location or country which its assets is up for sale, but explained that the move is part of its vast $30 billion three-year asset sales programme.

According to Reuters, its head of upstream Andy Brown, who made this disclosure at the Oil and Money conference in London said, "There are 16 assets currently in the market that are above $500 million in value."

It will be recalled that the Anglo-Dutch Company, had earlier this year, launched the programme to reduce its debt following the acquisition of BG Group. Uncertainty over future oil price has led to a sharp slowdown in deal making in the sector in recent years.

The company which had announced that it planned to end operations in some countries however affirmed its commitment to remain in Nigeria.

Shell Chief Executive Officer, Ben van Beurden said that the company would not leave the country, and reaffirmed the continuity of liquefied natural gas and deep water operations there.

The company's facilities have come under attack on several occasions this year, which posses a lot of deficit to its financials, as the cost of repairs on some of the damaged facilities is greatly on the high side.

Comments

NIGERIA'S BREAKUP IS NOT AN OPTION-DAVID MARK

N igerians must move on together as a breakup is not an option, former Senate President, David Mark, said on Friday. “Those who are agitating for otherwise are missing the point. Nigeria has crossed many crucibles. We cannot reverse ourselves,” Mr. Mark told Kaduna State Acting Governor, Alhaji Aminu Shagali, in Kaduna. He was at the head of a delegation of the Nigeria Defence Academy (NDA) 3rd Regular Course Alumni Association on a courtesy visit to the acting governor. “The only option is to move on in a manner that is progressive, peaceful and united,” he was further quoted as saying by his media aide, Paul Mumeh. “We may have our disagreements. But a breakup is not an option. We can resolve our differences through meaningful dialogue and genuine conversation." “There is no use heating up the polity,” the ex-Senate president added. He noted that no matter the imperfections, the nation is greater and better as an indivisible country.

EMIR OF KASTINA TELLS PRESIDENT BUHARI TO SIGN PEACE CORPS BILL

The Emir of Katsina, Abdulmumini Usman, has declared support for the Peace Corps bill passed by the National Assembly. The bill, which seeks to turn the Peace Corps, a non-government organisation, into a government paramilitary agency, has elicited mixed reactions from Nigerians. Proponents see it as an avenue to create jobs for thousands of youth while critics describe as a duplication of functions already being performed by existing agencies and creation of another bureaucracy at a time the country is finding it difficult to pay workers' salaries. The bill was opposed by existing military and security institutions in Nigeria and the Peace Corps leader Dickson Akoh is currently being prosecuted for alleged fraud. Apart from lawmakers, the bill is also supported by some prominent Nigerians including the Minister of Sports, Solomon Dalung, who also asked Mr. Buhari to sign to it. The News Agency of Nigeria reports that the Katsina emir made a similar call on the president on Thursda

Asari Dokubo reveals name of President Buhari's ailment.

Former Niger Delta militant leader, Asari Dokubo, has said that President Muhammadu Buhari will never be well again. He said that this is the reason no doctor has been able to diagnose his ailment. Asari said the hands of God is on Buhari just as they were on Pharoah. He also said the name of the disease affecting President Buhari is 'hale and hearty.' According to ex-MEND leader, every government official who goes to London to see President Buhari returns to the media to say that he is hale and hearty. He said they have all failed to disclosed what ailment he is suffering from. He said, "As God first of afflicted Pharaoh with the deafness of the ear and deafness of the heart, God also first of all, afflicted Buhari with deafness of the ear. "He was not sick, later they said he has an ear infection like Pharoah. Allah inflicted him with ear problem. "We are talking of ear problem and we heard of another sickness and the name of that sickness is hale and hearty. H

9JATRAFFIC

Search This Blog