• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 8, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NUPRC Raises Hope Of Successful Completion Of Seplat-ExxonMobil Asset Deal

by Chika Izuora
2 years ago
in Business
Seplat-ExxonMobil
Share on WhatsAppShare on FacebookShare on XTelegram

The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has said, he is very optimistic that oil major Exxon Mobil’s asset sale to Seplat Energy can move forward.

Advertisement

The regulator had, last year, disapproved of the $1.28 billion sale, which some in the industry say is key to getting much-needed investment into Nigeria’s oil and gas sector.

“We are very optimistic that parties to the transaction will go back, look at the position of the regulator and come back by abiding by the provisions of Nigerian laws and the right thing will be done,”  Komolafe, told Reuters on the sidelines of an African energy conference.

Komolafe said, Exxon “did not route the transaction” in line with the provisions of its joint operating agreement, but said that once Exxon had made proper agreements with its joint-venture partners in the assets, ‘the regulator will do what it needs to.’

State oil company NNPC had also opposed the sale, arguing it had pre-emptive rights to the assets. NNPC has not publicly commented on whether it made an offer to buy the assets.

RELATED

Dangote Refinery’s Completion To Make Naira Stronger

US Provides Third Of Dangote’s Crude Requirement In 2025 Supplies

2 hours ago
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations

Consumer Goods Sector Drives NGX Growth With 40.65% Increase

2 hours ago

Nigeria, relies on petroleum for 90 per cent of its foreign exchange, and half its budget. But production has declined in recent years due to years of underinvestment and theft. Several international oil majors are looking to sell onshore assets, but those deals have run into legal and regulatory hurdles.

Last month, NNPC said a subsidiary of Italy’s Eni did not obtain its consent prior to announcing a deal to sell onshore oil assets to local company Oando, a failure that it said could have breached terms of a joint operating agreement.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


Tags: Seplat-ExxonMobil
SendShareTweetShare
Previous Post

Forex Scarcity: Analysts Say Improved External Relations Will Boost Capital Inflow

Next Post

NLNG Seeks Increased Investment In Gas To Support Energy Transition

Chika Izuora

Chika Izuora

You May Like

Dangote Refinery’s Completion To Make Naira Stronger
Business

US Provides Third Of Dangote’s Crude Requirement In 2025 Supplies

2025/06/08
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations
Business

Consumer Goods Sector Drives NGX Growth With 40.65% Increase

2025/06/08
JUST IN: Nigerian Stocks End 8-Day Gains As Banks Slide
Business

‘Dangote Petrochemicals Listing To Boost Nigeria’s Stock Market’

2025/06/08
NLNG Ties 2023 Science Quiz Competition To Net Zero Emission
Business

NLNG Launches Human Capital Devt Programme Under Train 7 Project

2025/06/08
SEC Warns Nigerians Against Unregistered Investment Schemes
Business

New Meme Coin, PUNISHER COIN, Not Registered – SEC

2025/06/08
AMMC Begins Intensive Traffic Control On Airport Road
Business

Lagos, Abuja Top Nigeria’s 2025 Global Startup Index

2025/06/08
Leadership Conference advertisement

LATEST

Khadeejah Wins Big At Campus Invasion

Lassa Fever: Vaccine Produced By Nigerian Shows High Potency –Virologist

Make Music Lagos Marks 10 Years With MI, Drille

Group Advocates Stronger Policies To Mitigate Climate Change

Harnessing Visual Communications To Strengthen Electoral Process

The Ministry Of Personal Deliverance (PART 11)

Tinubu And Arewa

Of Eid, Sacrifice, And The Politics Of Hope

Understanding Lumbar Spondylosis: What Your Lower Back Is Telling You

US Provides Third Of Dangote’s Crude Requirement In 2025 Supplies

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.