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
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The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
