The Nigerian Upstream Petroleum Regulatory Commission says Oando Plc has completed the acquisition of 100 percent shares of Eni in its subsidiary, Nigerian Agip Oil Company Limited .
In September 2023, Oando Plc announced plans to acquire NAOC, but the deal was delayed due to regulatory approvals required.the ongoing NOG Energy Week in Abuja, Gbenga Komolafe, chief executive officer of NUPRC, said the signing ceremony of the deal would take place soon. “For some of you who were at the panel session on Monday, the Chairman of IPPG raised issues about the need for us to give update on the divestments programmes on-going,” Komolafe said.“Now, I am here to give you real-time update on the four major divestments in Nigeria.Advertisement
“The Equinor and project Odinmim divestment is also completed. For the SPDC – Renaissance deals, documents have been submitted. Those documents are undergoing due diligence as we speak,” he said. Speaking further on the proposed takeover of ExxonMobil’s assets in Mobil Producing Nigeria Unlimited , Komolafe said the company had expressed commitment to apply for ministerial consent.Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!
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