Africa’s new breed of buyers eye production ramp-ups
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
Nigeria’s clutch of large asset transactions, transferring onshore positions from majors to indigenous players, gained serious traction at the end of 2024 after a protracted period in regulatory limbo. London- and Lagos-listed Seplat Energy on 12 December completed the acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil in a $1.28b deal. Just four days earlier, Chappal Energies, a Nigerian entity registered in Mauritius, completed the acquisition of Norwegian state-owned Equinor’s Nigerian unit, a transaction first announced in 2023, for $1.2b. That coincided with Shell reaching an agreement to sell onshore assets to a joint venture made up of five Nigerian energy companies, kno
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
