Royal Dutch Shell company has announced sale of its assets in Nigeria, reported Financial Times.
The consortium operated by Royal Dutch Shell, which also includes French Total and Italian Eni, has decided to leave the market. The companies’ oil blocks have been put for the auction.
The decision was made, because of numerous cases of oil theft and activization of the terrorist groups.
Nigeria has been having the problems of illegal cuts into the pipelines and oil thefts since long ago. This often leads to environment pollution and stoppages of oil deliveries. The Nigerian authorities have repeatedly said that they will punish the criminals. They believe that during 2012 number of such case significantly decreased.—0---
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review