BREAKING: Shell disposes stake in Nigerian oil block for $533m

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By Samuel Oamen

The Shell Petroleum Development Company of Nigeria Limited has completed the process for sales of its 30 per cent interest in Oil Mining Lease 17 in the Eastern Niger Delta and associated infrastructure to TNOG Oil and Gas Limited for $533m.

Shell said it has received approvals from the relevant authorities of the Federal Government of Nigeria to complete the process.

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