Seplat Denies Cancellation of ExxonMobil Deal 

Seplet Energy says it had not received any official notification from the Federal Government stating the reversal of its proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited.

The company also said it was seeking clarification from relevant authorities regarding the claims that the President, Major General Muhammadu Buhari (retd.), who doubles as Minister of Petroleum Resources, had withdrawn his ministerial approval for the deal.

According to its Chief Financial Officer Emeka Onwuka says “Seplat Energy has become aware of a news report claiming that ministerial approval of the company’s proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited has been withdrawn”.

Also Read: Buhari Reverses Stance on Seplat, Exxon Mobil Deal

It added, “Seplat Energy has received no official notification of such a decision and is seeking clarification from the relevant authorities.”

Recall that Economic Confidential as at Thursday reported that the President had reversed his authorisation of the acquisition of the entire share capital of MPNU by Seplat Energy Offshore Limited.

The move puts the Presidency on the side of the Nigerian National Petroleum Company Limited which had earlier declined the $1.3bn transaction.

However, the whole controversy began to troll since Monday after the Special Adviser to the President on Media and Publicity, Femi Adesina, had announced that Buhari consented to the acquisition of Exxon Mobil shares by Seplat Energy.