Nigeria's regulatory authorities have approved the sale of ExxonMobil's assets to Seplat Energy while halting Shell's planned divestment of its onshore and shallow-water operations, reported Reuters.

The federal government has approved the sale of ExxonMobil’s onshore assets to Seplat Energy, more than two years after the

Nigeria has approved the sale of Exxon Mobil Corp's onshore assets to Seplat Energy, the chief executive officer of the country's upstream regulator said on Monday, more than two years after the $1.28 billion deal was first agreed.

The FG has endorsed ExxonMobil's divestment to Seplat Energy while rejecting Shell's proposed deal with Renaissance Africa Energy.

Nigeria's upstream regulator has approved Seplat Energy's purchase of Exxon Mobil Corp's onshore assets. This $1.28 billion deal, announced in 2022, includes oil mining leases and natural gas infrastructure.

Nigeria has approved the sale of Exxon Mobil Corp's onshore assets to Seplat Energy, the chief executive officer of the country's upstream regulator said on Monday, more than two years after the $1.28 billion deal was first agreed.

Nigeria has declined to approve the sale of Shell's (NYSE:SHEL) onshore and shallow-water oil and gas in the Niger Delta region to a consortium of local companies, the country's upstream regulator said Monday.