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
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
