Technocrat Media
Gbenga Komolafe, the chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) can approve the acquisition deal between ExxonMobil and Seplat Energy deal.
The Commission has affirmed that the status quo remains with respect to ExxonMobil/Seplat Energy share acquisition.
The NUPRC boss made this known in a statement on Monday in Abuja in reaction to the development that President Muhammadu Buhari has consented to the acquisition of ExxonMobil shares by Nigeria’s Seplat Energy Offshore Limited.
Mr Komolafe stated that in line with provisions of the Petroleum Industry Act 2021, NUPRC was the sole regulator in dealing with such matters in the Nigerian upstream sector.
He said as it were, the issue at stake was purely a regulatory matter and the commission had earlier communicated the decline of ministerial assent to ExxonMobil in this regard.
“That position remains the status quo and to the best of our knowledge as a regulator, nothing has changed.
“The Commission is committed to ensuring a predictable and conducive regulatory environment at all times in the Nigerian upstream sector,” he said.
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