-
JenneteUgo Anya
- October 23, 2024
FG Endorses ExxonMobil-Seplat Divestment, Disapproves Shell-Renaissance Deal
The federal government has approved the divestment of ExxonMobil’s Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy, while rejecting Shell’s proposed sale of assets to Renaissance Africa Energy. These decisions were revealed during the recent launch of the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) ‘Project 1 million barrels of oil per day (MMBPD)’ initiative. Mr. […]
Read More
-
- October 18, 2024
Shell Faces Regulatory Snag As FG Blocks $1.3bn Oil Asset Sale
In a significant development that could reshape investment dynamics in Nigeria’s oil and gas sector, the federal government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has rejected Shell’s proposed $1.3 billion sale of its onshore oilfields to the Renaissance Group. While this decision might seem like a routine regulatory intervention, it carries profound implications […]
Read More
-
- August 23, 2024
Oando PLC Finalises $783m Acquisition Of NAOC
Oando PLC has successfully concluded its acquisition of the Nigerian Agip Oil Company (NAOC) from Italy’s Eni, in a landmark $783 million deal. This strategic move marks a significant step in Oando’s long-term growth plan, reinforcing its position in Nigeria’s oil and gas sector. The transaction, which encompasses both reimbursement and asset consideration, received final […]
Read More