THE Nigerian National Petroleum Company Limited has won a court decision temporarily blocking Exxon Mobil Corporation from selling assets in Nigeria to Seplat Energy Plc.
A judge in Abuja granted NNPC an “order of interim injunction” on July 6, 2022, barring Exxon “from completing any divestment” in a unit that ultimately operates four licenses in Nigeria, Blomberg reported on Monday.
The Lagos-based producer, Seplat, had agreed to acquire the United States oil major’s subsidiary for at least $1.28bn in February.
The report stated that NNPC wished to block the transaction and to take over the permits itself.