Nigeria Drops Challenge to Exxon Asset Sale, Bloomberg Reports
-- Nigerian National Petroleum Co. withdrew its legal challenge to Exxon Mobil's sale of oil-and-gas assets to Seplat Energy, Bloomberg reported.
-- The state oil company applied to a high court in the nation's capital to drop the case, according to the report.
-- An agreement was reached last month between the NNPC and Exxon to conclude the $1.3 billion deal, Bloomberg reported.
-- The Exxon sale to Seplat was signed in February 2022. It requires approvals from the Nigerian Upstream Petroleum Regulatory Commission, according to the report.
Full article at: https://www.bloomberg.com/news/articles/2024-06-13/nigeria-s-state-oil-firm-ends-case-halting-exxon-sale-to-seplat
Write to Matt Walker at matthew.walker@dowjones.com
(END) Dow Jones Newswires
June 13, 2024 16:36 ET (20:36 GMT)
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