Government in-fighting to blame for block on ExxonMobil licence sale to Seplat
A battle between different factions within the Nigerian government has scuppered the sale of ExxonMobil's shallow offshore assets to the Nigerian junior Seplat.
The recent sale of the Shell Petroleum Development Co in 2021 is whetting the appetite of many international and national investors. To maximise his chances of obtaining the Anglo-Dutch major's onshore assets, businessman Tony Elumelu is putting together a formidable consortium.
Taking a page from ExxonMobil's book (AEI 851), Chevron would like to trim its Nigerian portfolio by divesting from secondary or aging assets. The plan is to sell these to local firms with enough connections for the Department of Petroleum [.