Shell Agrees to Sell Nigerian Gas Business to Vaaris Energy

Key Facts

Shell has agreed to sell its Nigerian gas business to Vaaris Energy. Reuters reported that the divestment is part of the company's ongoing effort to exit onshore and nearshore operations in the country due to persistent operational challenges.

The sale aligns with Shell's long-term strategy to optimize its portfolio and shift focus toward deepwater and integrated gas projects. Regarding market performance, SHEL closed at $101.59 on October 12, 2026, after reaching a day high of $102.47 and a low of $101.27.