Nigeria is gearing up to host a specialised oil and gas roadshow aimed at enticing back international energy companies that previously withdrew from its onshore sector, a senior government official announced on Monday. Following the departure of major players like Shell and Exxon, who shifted focus to deep offshore exploration, Nigeria has faced challenges in Read More…
Tag: oil majors
Seplat Energy nears completion of ExxonMobil asset acquisition amidst legal hurdles
In a landmark move that could reshape the landscape of Nigeria’s oil industry, Seplat Energy is on the verge of concluding its acquisition of ExxonMobil’s Nigerian shallow water oil assets, valued at a colossal $1.28 billion. This development comes after the Nigerian National Petroleum Corporation (NNPC) withdrew its legal challenge against the sale, which had Read More…
Shell’s exit sparks hope for Nigerian oil sector amid risks, analysts say
Shell’s recent departure from Nigeria’s onshore oil sector is seen as a pivotal moment, raising optimism among local firms to rejuvenate production in Africa’s largest oil exporter. Industry insiders and analysts emphasise the challenges faced by oil majors in the region but foresee opportunities for indigenous companies to reverse the output decline in the Niger Read More…