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Nigeria: Foreign oil companies moving out amid oil thefts


Overseas oil companies are divesting their assets in Nigeria amid a rising number of thefts in the Niger Delta, Investing.com reported.

Royal Dutch Shell P.L.C. said it has entered into sales and purchase agreements "for some of the oil mining leases, but not all that we are seeking to divest." Italy's Eni S.p.A. and France's Total S.A. are also offloading stakes in some assets. U.K. think tank Chatham House said the Nigerian government's oil selling system attracts shadowy middlemen, creating a "high-risk marketplace."

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