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Thursday, June 13, 2024

FG opts for conditional divestment as oil majors trade $4.5b assets

Shell’s proposed withdrawal from Nigeria’s onshore oil and gas sector sparks new challenges, with Nigerian companies actively seeking to acquire $4.5 billion worth of assets from Shell, ExxonMobil, and Nigerian Agip Oil Company Limited (NAOC).

The federal government is leaning towards a conditional divestment strategy as major players engage in a substantial trade of assets valued at $4.5 billion.

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