Africa’s new breed of buyers eye production ramp-ups
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
Nigeria’s clutch of large asset transactions, transferring onshore positions from majors to indigenous players, gained serious traction at the end of 2024 after a protracted period in regulatory limbo. London- and Lagos-listed Seplat Energy on 12 December completed the acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil in a $1.28b deal. Just four days earlier, Chappal Energies, a Nigerian entity registered in Mauritius, completed the acquisition of Norwegian state-owned Equinor’s Nigerian unit, a transaction first announced in 2023, for $1.2b. That coincided with Shell reaching an agreement to sell onshore assets to a joint venture made up of five Nigerian energy companies, kno
Also in this section
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
21 January 2026
Petroleum Economist takes a look at the critical developments that look set to govern the course of the market for this year
20 January 2026
The ripple effects of US refiners switching to Venezuela grades will be felt from Canada to China and everywhere in between
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
