Buhari approves Seplat’s acquisition of Exxon Mobil shares - Punch Newspapers

“Exxon Mobil had entered into a landmark Sale & Purchase Agreement with Seplat Energy to acquire the entire share capital of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation, Mobil Development Nigeria Inc, & Mobil Exploration Nigeria Inc, registered in Delaware, USA.

“Considering the extensive benefits of the transaction to the Nigerian Energy sector and the larger economy, President @MBuhari has given Ministerial Consent to the deal. “The President, in commitment to investment drive in light of the Petroleum Industry Act, granted consent to the Share Sales Agreement, as requested by the parties to the transaction, and directed that the approval be conveyed to all the parties involved.”

Consequently, Exxon Mobil/Seplat are expected to carry out operatorship of all the oil mining licenses in the related shallow water assets towards production optimization to support Nigeria’s OPEC quota in the short term as well as ensure accelerated development and monetisation of the gas resources in the assets for the Nigerian economy.

MBuhari approve ASUU sir

The Caption should have being 'Cabals Approves Seplats acquisition of Exxon Mobil shares'

Presidency approves not Buhari.

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