ExxonMobil aims to dispose of MPNU to hit its 2025 divestment targets
Seplat denies ExxonMobil deal under threat
Acquisition of US major’s assets still on track, says Nigerian independent
Nigerian independent Seplat has rejected reports suggesting state-owned NNPC has pre-empted its acquisition of ExxonMobil’s shallow-water assets in Nigeria. Seplat issued a statement saying it had “become aware of newspaper and social media reports that the NNPC has exercised a right of pre-emption" on its deal to acquire the US major’s Mobil Producing Nigeria Unlimited (MPNU) subsidiary. This pre-emption reportedly arose from the existing joint operating agreement (JOA) between NNPC and MPNU, but Seplat “wishes to clarify” that its previously announced SPA with ExxonMobil relates to the acquisition of the share capital of MPNU’s shareholders—comprising Mobil Development Nigeria and Mobil Ex
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
