Shell, ExxonMobil, other IOCs frustrated by slow progress of Nigerian oil asset sales

March 11, 2024/in /by Rudolf Huber

The shale paradigm has made many oil majors rethink if their efforts in some less-easy-going parts of the globe were still worth it. Oil and Gas from Nigeria is mostly sweet and comparatively easy to produce and refine but the politics plus the safety situation in the country are also cost factors and it seems those factors are harder to swallow than the additional cost of unconventional reserves. Also, Nigeria is not exactly very close to high-price markets. The oil and the gas need to be transported opening further risk and cost so the calculation has shifted. If this takes too long, the majors might think of write-downs. They want out.

Optimism that President Bola Tinubu’s arrival in office in May would expedite deals in Africa’s biggest oil producer is starting to dissipate.

worldoil.com

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I met Rudolf at the beginning of 2011, since we were both involved and working together within several European / Scandinavian projects for the development of technology, standardisation and legal aspect in the use of LNG as marine fuel and along its supply chain. Rudolf has vast expertise in, and perspective on, different aspects of LNG technologies, suppliers, infrastructures and supply chain options. He is able to provide a deep understanding and insight into these areas and is a conscientious and diligent source. Moreover, he is a tremendous visionary on the geopolitical, trading and technology aspects of energy, with a special remark for LNG traditional and small / mid magnitude chain. Rudolf has very proactive personal and working approach and is an excellent team worker and leader. Not least, he has a unique persuasive way of writing, negotiating and delivering speeches. I would certainly recommend him as an excellent expert and believe he would be a powerful asset for any company actively working in Oil and Gas. Thank you Rudolf! Marco

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I was introduced to and met Rudi in Angola when he started to develop his Sub Saharan Africa network. At the time he worked for EconGas/OMV and he tried organizing longterm LNG supply for them under the unlikeliest of all circumstances. He figured that Africa would be the only place where this would be a realistic prospect for long term uncommitted supplies of LNG. Rudi did not hesitate, started in Africa from absolute zero and spawned relationships and personal friendships with incredible speed. When I met him I didn’t know much about LNG. Today I follow the LNG news on my continent with great interest and a much clearer understanding of the LNG trade. Whenever I have a job that involves venturing into the unknown, Rudi will always be my man.

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