By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AIT LIVE
  • Live TV
  • Nigeria Votes 2023
  • Politics
  • Business
  • Sports
  • Videos
  • Entertainment
  • Global
Aa
Aa
AIT LIVE
Search
  • Live TV
  • Nigeria Votes 2023
  • Politics
  • Business
  • Sports
  • Videos
  • Entertainment
  • Global
Have an existing account? Sign In
Follow US
Business

Exxon mobil acquisition: president Buhari gives approval

Last updated: 2022/08/08 at 4:08 PM
8 months ago
Share
1 Min Read
aitlive 8 8

President Mohammadu Buhari has Consented tO Acquisition of EXXON Mobil shares by SEPLAT Energy Offshore Ltd.

A statement by the special adviser to the president on media and publicity Femi Adesina says, the president made the decision in his capacity as Minister of Petroleum Resources, and in consonance with the country’s drive for Foreign Direct Investment in the energy sector.

Exxon Mobil had entered into a landmark Sale and Purchase Agreement with Seplat Energy to acquire the entire share capital of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation, Mobil Development Nigeria Inc, and Mobil Exploration Nigeria Inc, both registered in Delaware, USA.

Exxon Mobil/Seplat are expected to carry out operatorship of all the oil mining licenses in the related shallow water assets towards production optimization to support Nigeria’s OPEC quota in the short term as well as ensure accelerated development and monetization of the gas resources in the assets for the Nigerian economy.

President Buhari also directed that all environmental and abandonment liabilities be adequately mitigated by Exxon Mobil and Seplat.

(Editor: Ebuwa Omo-Osagie)

- Advertisement -
Share this Article
Facebook Twitter Whatsapp Whatsapp Email Print

Trending

aitlive 6
Presidential Election Petition : Court Of Appeal Grants PDP, LP Request To Interrogate INEC On Election
Headlines
aitlive 1 30
Labour Party Pulls Out of Presidential Election Results Collation
2023 Elections Headlines
aitlive 1 26
CBN directs Commercial Banks to dispense and receive old Naira notes
Headlines
LABOUR PARTY
Breaking: LP And Presidential Candidate, Peter Obi, Get Court Permission To Inspect Forensic Materials
2023 Elections
ait image 1 1
Labour Party calls for cancellation of presidential election
2023 Elections
INEC
BVAS: LP threatens mass protest over INEC’S disobedience of Tribunal order
Headlines Video
aitlive 4 2
Full Text of National Broadcast: President Buhari approves use of old and new N200 notes till April 10
Headlines
INEC
INEC Chairman Advice Aggrieved Political Parties to Redress in Court if not Satisfied with the 2023 Presidential Election Result
Headlines
aitlive 1 4
Breaking: Supreme Court Orders that the N200, N500, and N1000 naira notes continue to be legal tender till December 31, 2023
Headlines
INEC
INEC Urges Presidential Election Tribunal To Vary Orders Granted PDP, LP
2023 Elections

Section

  • Headlines
  • Local
  • Business
  • Politics
  • Sports
  • Crime
  • Education
  • Health
  • Entertainment

Programmes

  • Kakaaki
  • Focus Nigeria
  • Democracy Today
  • People Politics and Power
  • News Hour
  • AIT Reports
  • World News
  • Moneyline With Nancy
  • Jigsaw
Follow US

© AIT.LIVE. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?