As Seplat Energy’s acquisition of Mobil Producing Nigeria Unlimited ran into a hitch last week, there are concerns that unless the issues are amicably and urgently resolved, Nigeria may be killing indigenous initiatives and sending wrong signals to the international community seeking to invest in the nation’s oil industry, reports Festus Akanbi
For obvious reasons, different interpretations, speculations and allegations have continued to trail the botched Seplat Energy’s acquisition of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation.
It was a back-and-forth scenario as an earlier statement from the Presidency on Monday had conveyed President Muhammadu Buhari’s approval of the acquisition.
However, the statement had barely trended in the media for a few hours before the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) invalidated the deal, insisting the matter was a regulatory one and that nothing had changed after it had…
Source: Thisday Newspaper
