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Saturday Magazine
By Guardian Nigeria
16 January 2024 | 10:38 am

In a game-changing move for the Nigerian oil sector, Renaissance Africa Energy has reached a groundbreaking agreement with Shell to acquire its entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC).


Renaissance is a consortium consisting of ND Western Limited, Aradel Holdings Plc. the Petrolin Group, FIRST Exploration and Petroleum Development Company Limited, and the Waltersmith Group.

Shell, on it’s verified X (formerly known as Twitter) account, shared a post confirming the acquisition which is subject to approval by the Nigerian authorities.


This landmark acquisition marks a new chapter for both Renaissance and the Nigerian energy landscape, paving the way for exciting developments in the years to come.

https://guardian.ng/business-services/renaissance-africa-energy-to-acquire-shells-stake-in-spdc-in-landmark-deal/