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Shell in talks to sell $2 bn Nigeria assets amid environmental controversy

No deal has been reached and the talks could still fall apart

investments, shell firms
premium

Illustration: Binay Sinha

Kelly Gilblom & Dinesh Nair | Bloomberg
Royal Dutch Shell Plc is in talks to sell two Nigerian oil licenses in an area that’s at the heart of environmental and human rights controversies for $2 billion, according to people familiar with the plan.

The Anglo-Dutch oil major is discussing selling oil mining licenses 11 and 17 to Heirs Holdings Ltd., a company run by Nigerian tycoon Tony Elumelu, the people said. Included in the sale are infrastructure assets such as a natural gas-fired power plant that would be managed by Transnational Corporation of Nigeria Plc, another company run by Elumelu, they said.

Exiting the two blocks would