Global Gas & Refining Limited (GGRL) Tuesday condemned the sale of Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance Africa Energy Holdings, describing the transaction as a violation of Nigeria’s judicial system.
In a statement, Global Gas Chairman, Kenneth Yellowe, criticised the March 13, 2025 announcement, accusing Shell of proceeding with the sale despite a pending court case. He cited Suit No: FH/ABJ/CS/413/2024 at the Federal High Court, in which Global Gas had sued Shell and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over the deal.
According to Yellowe, the transaction disregards a court order restraining any sale pending the case’s resolution.
Beyond Shell, Global Gas also condemned NUPRC for approving the deal under Commission Chief Executive Gbenga Komolafe, despite a sworn Affidavit of Undertaking in court, which committed the regulator to halt any actions affecting the lawsuit.
The company accused NUPRC of acting in bad faith, violating its own legal commitments, and undermining Nigeria’s judicial integrity.
Global Gas warned that Shell’s disregard for court orders threatens the rule of law, erodes investor confidence, and sets a dangerous precedent for corporate governance in Nigeria. It also alleged that its $500 million investment had been trapped in a 20-year dispute with SPDC due to alleged obstruction by Shell.
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Vowing legal action against both Shell and NUPRC, Global Gas insisted it would challenge the sale in court, warning that failure to uphold judicial authority would damage Nigeria’s regulatory credibility beyond repair.
