Italian oil major Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of 100 per cent of its shares of Nigerian Agip Oil Company (NAOC) to Oando PLC for an undisclosed amount.
Oando PLC, in a statement by its secretary, Ayotola Jagun, on Thursday, said following Eni’s receipt of consent, both parties can proceed with the completion of the transaction.
Commenting, Wale Tinubu, group chief executive of Oando plc, said “We are delighted that Eni has received the government’s approval to proceed with the completion of this strategic transaction.
