SHELL Sells Some Operating Licenses

Shell Petroleum Development Company(SPDC), the Nigerian version of the Anglo-Dutch oil giant SHELL is preparing to sell some of its operating licenses in Nigeria. The major reason adduced by the company through its Chief Financial Officer, Simon Henry, was a drop in her global profit due to oil theft and sabotage.

Further information from SHELL also showed that several indigenous companies have indicated strong interest in the non-profitable operating licenses.

If SHELL sells out to those indigenous companies, we are optimistic that they shall turn things around because no company can operate in a such capital-intensive industry without a profit.

SHELL has to be closely guided in that proposed licenses sale.