Business

Agip did not get our consent to sell assets to Oando – NNPC

NNPC Limited has disclosed that Nigerian Agip Oil Company (NAOC) did not obtain its consent before announcing a deal to sell onshore oil assets to Oando PLC.


Nairametrics reported that Oando Plc had entered an agreement with ENI for the acquisition of 100% of the shares of Nigerian Agip Oil Company Limited (NAOC Ltd). The completion of the acquisition was subject to Ministerial Consent and other required regulatory approvals.


According to Reuters the concerns raised by NNPC cast doubt on the speed of the transaction highlighting the difficulties international oil companies have been facing while trying to sell their Nigeria onshore oil and gas assets.