Nigeria: NEITI plans review of $6.03bn divestments by IOCs — Africa Links 24

The Nigeria Extractive Industries Transparency Initiative, NEITI, has announced a review of divestments involving 26 oil blocks worth $6.03 billion by five International Oil Companies, IOCs.

The Executive Director, NEITI, Dr Orji Ogbonnaya Orji, made this known during its first quarter media briefing in Abuja.

The transactions include notable sales such as Shell to Renaissance ($2.4 billion), ExxonMobil to Seplat ($1.28 billion), and TotalEnergies to Chappal ($860 million).

Mr…