Recall that ExxonMobil had announced that Seplat Energy has agreed to purchase its complete shares in Mobil Producing Nigeria Unlimited (MPNU), subject to regulatory approval.
Also, Seplat Energy Plc on February 25 announced an agreement to acquire the entire share capital of MPNU, a subsidiary of ExxonMobil.
On March 4, the NNPC Group Managing Director, Mele Kyari, in a letter addressed to ExxonMobil said the national oil company has opted to exercise its right of first refusal in the deal as contained in the Joint Operating Agreement (JOA).
Reacting to the development, the Chief Financial Officer of Seplat, Emeka Onwuka, said the proposed deal had not been blocked or terminated by NNPC as widely reported.
According to the Punch, the NNPC’s bid to acquire ExxonMobil’s assets is part of the Corporation’s expansion plan.
It was learned that the state-owned oil firm must have, based on its exercise of the right of first refusal, paid as much as $2 billion for the assets.
The General Manager of the Lagos State Neighbourhood Safety Agency (LNSA), Dr. Ifalade Oyekan has…
NECO result for 2024 is out now: The National Examinations Council (NECO) has announced the…
The management of the Federal Teaching Hospital Gombe (FTH) has prohibited its employees from engaging…
The Governor of Zamfara State, Dauda Lawal, has alleged that the Minister of State for…
A male inmate at a Maricopa County jail in Arizona was caught on surveillance cameras…
Female football referee, Emanuela Rusta has revealed she is fed up of being referred to…