Oil workers in Nigeria
African divestment deals are back in the frame
After some delay, the much-heralded sale of oil and gas companies’ mature upstream assets in sub-Saharan Africa has gained fresh momentum, with a clutch of deals reaching completion
The Nigerian government has approved the sale of ExxonMobil’s onshore Nigerian assets to domestic company Seplat Energy, more than two years after the $1.28b deal was first announced, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) CEO Gbenga Komolafe has confirmed. This landmark transaction, focused on ExxonMobil’s shallow-water holdings, follows formerly state-controlled Nigerian National Petroleum Company’s (NNPC’s) withdrawal of a legal challenge to a deal that will nearly treble London-listed Seplat’s production to 151,000boe/d. In Nigeria, at least, the sense has grown in recent months that the obstacles stymieing deals are evaporating. “The majors are exiting land and
Also in this section
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
