M&A

SBM Offshore

Dutch SBM Offshore divests entire stake to Equatorial Guinean state oil firm

SBM Offshore will exit Equatorial Guinea after divesting its stake in FPSO Aseng to state-owned GEPetrol, marking a shift towards African energy sovereignty amid global transition pressures.

Oando

Nigerian Oando’s acquisition of Eni’s NAOC sparks concern

Oando’s $783 million acquisition of Nigeria Agip Oil Company (NAOC) marks a strategic leap in expanding its upstream operations and reinforcing its position in Nigeria’s oil sector, but experts have raised health and environmental concerns.

Nigeria

IOCs must follow due process to divest in Nigeria: regulator

At the Nigeria International Energy Summit, the country’s upstream regulator stressed the need for due process during IOCs’ divestment in Nigeria amid Shell’s sale.