Buhari approves Seplat's acquisition of Mobil Nigeria from ExxonMobil

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

Mr Buhari also directed that all environmental and abandonment liabilities be adequately mitigated by Exxon Mobil and Seplat.Seplat’s move to take over the asset suffered setback after NNPC asserted a right of first refusal on the deal. NNPC had prayed the court, State High Court of the Federal Capital Territory, to declare that a conflict happened between the state-owned oil company and MPNU over the “interpretation of preemption rights under their Joint Operating Agreement and order NNPC and MPNU to arbitration as required by the JOA.”

ExxonMobil’s move to exit Africa’s largest crude producer mirrors the growing tendency among international oil companies to discontinue their stakes in offshore operations in the country and plough in their investment elsewhere.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Buhari okays acquisition of Exxon Mobil shares by SeplatPresident Muhammadu Buhari has consented to the acquisition of Exxon Mobil shares in the United States of America by Seplat Energy Offshore Limited. The Who are the owners of Seplat? When a president okays acquisition like this 'a cabal' is involved in Seplat.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

JUST-IN: Buhari Okays Seplat's Acquisition Of Exxon Mobil Shares“Considering the extensive benefits of the transaction to the Nigerian Energy sector and the larger economy, President Buhari has given Ministerial Consent to
Source: LeadershipNGA - 🏆 4. / 77 Read more »

Buhari approves Seplat’s acquisition of Exxon Mobil shares - Punch NewspapersThe most widely read newspaper in Nigeria The Caption should have being 'Cabals Approves Seplats acquisition of Exxon Mobil shares' Presidency approves not Buhari. MBuhari approve ASUU sir
Source: MobilePunch - 🏆 8. / 63 Read more »

Buhari overrides NNPC, approves Seplat's acquisition of Mobil Producing Oil assets | TheCablePresident Muhammadu Buhari has approved the acquisition of ExxonMobil Corporation assets by Seplat Energy Plc despite moves by the state-owned oil company to block the deal. In February, Seplat had nnpclimited Seplatpetroleum SeplatEnergy MKKyari Minister of Petroleum taking action 🤣. Las Las everybody go chop breakfast nnpclimited Seplatpetroleum SeplatEnergy MKKyari Bubu is the King nnpclimited Seplatpetroleum SeplatEnergy MKKyari 😳😳😳😳.... Seriously! Ah.
Source: thecableng - 🏆 2. / 80 Read more »