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Renaissance Africa Energy to acquire Shell’s stake in SPDC in landmark deal

By Guardian Nigeria
16 January 2024   |   10:38 am
In a game-changing move for the Nigerian oil sector, Renaissance Africa Energy has reached a groundbreaking agreement with Shell to acquire its entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC). Renaissance is a consortium consisting of ND Western Limited, Aradel Holdings Plc. the Petrolin Group, FIRST Exploration and Petroleum Development Company…

In a game-changing move for the Nigerian oil sector, Renaissance Africa Energy has reached a groundbreaking agreement with Shell to acquire its entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC).

Renaissance is a consortium consisting of ND Western Limited, Aradel Holdings Plc. the Petrolin Group, FIRST Exploration and Petroleum Development Company Limited, and the Waltersmith Group.

Shell, on it’s verified X (formerly known as Twitter) account, shared a post confirming the acquisition which is subject to approval by the Nigerian authorities.

This landmark acquisition marks a new chapter for both Renaissance and the Nigerian energy landscape, paving the way for exciting developments in the years to come.

Details later…

In this article

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