Shell announces major oil project investment while seeking to exit operations in several countries

Shell is making a major $20 billion investment in the Bonga South West oil project off the coast of Nigeria, a move that has received support from the Nigerian president. At the same time, the company is reportedly looking to exit its oil and gas operations in several other countries.

According to sources, Shell is considering leaving Argentina's Vaca Muerta shale play. A Syrian official also stated that Shell has requested to withdraw from the al-Omar oilfield in Syria, noting that U.S. firms have shown interest in the asset.