Shell forced to extend Nigeria sale...

摘要

Shell is being forced to extend the deadline for two of the bidders for its onshore Nigeria sale as once again a simple process becomes complicated in Nigeria. The European major had already extended the deadline for the four consortia to raise the finances until the end of June. But senior sources say that the Aiteo/Taleveras consortium which won OML 29 and the Pan Ocean/ Newcross consortium which came out on top for OML 24 did not manage to meet this deadline. Shell now has the option of moving to the second highest bidder or extending again. With some of the companies being politically well connected it is likely that Shell will choose the path of least resistance and give extra time.