ABUJA (Reuters) -Nigerian President Muhammadu Buhari has granted consent to the acquisition of Exxon Mobil's Nigerian unit by Seplat Energy, in a $1.28 billion deal announced in February. Buhari, who doubles as oil minister, granted ministerial approval to the deal, the presidency said in a statement on Monday. Exxon and Seplat are expected to operate the unit's oil licenses, supporting Nigeria meet its OPEC production quota in the short term as well as accelerate the development of gas resources in the area.
Encore (WIRE), Delek (DK) and Exxon Mobil (XOM) are currently witnessing a short-term pullback in price. So, make sure you take full advantage of it.
TechnipFMC (FTI) is likely to provide the engineering, procurement, construction and installation of subsea risers and pipelines as part of this new contract in Guyana.