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
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
