Nigeria’s State Oil Firm Ends Case Halting Exxon Sale To Seplat
- NNPC’s withdrawal of suit paves way for conclusion of deal
- Seplat had agreed to pay $1.3 billion in February 2022
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Nigeria’s state oil company has withdrawn its legal challenge to Exxon Mobil Corp. sale of its oil and gas assets to Seplat Energy Plc., removing a hurdle that stalled the conclusion of the deal.
The Nigerian National Petroleum Co. applied to a high court in the nation’s capital Abuja to drop the case, its legal firm Afe Babalola confirmed by email on Thursday.