Shell Expands Nigeria Bets with Bonga Projects, $20 Billion Potential Spend

Shell PLC (NYSE:SHEL) shares are trading higher on Friday. NNPC Group CEO Bashir Ojulari reportedly stated that Shell Petroleum Development Company remains upbeat about committing up to $20 billion to Nigeria's oil and gas sector.

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Ojulari added that talks are underway on the Bonga South-West project, which could draw nearly $10 billion in capital spending, alongside substantial operating expenditure over its life cycle, as per NewsQuest.

Shell reached a roughly $5 billion final investment decision on the Bonga ...