Success Nwogu and Regina Otokpa The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said it has not accepted Shell International Plc’s bid to sell its onshore assets to Renaissance in a transaction worth $1.3 billion.
It stated that it would communicate its position on the transaction to the public at the appropriate time. Head, Public Affairs and Corporate Communication, NUPRC, Mrs Olaide Shonola, in a statement yesterday, further said that a report that the commission had accepted the transaction was incorrect.
The statement was titled: “Re-Boon for Nigeria as Shell’s $1.3bn assets sale gets regulatory nod.”
Shonola said: “The attention of the NUPRC has been drawn to a publication purporting that the Commission has accepted Shell International Plc’s bid to sell its onshore assets to Renaissance in a transaction worth $1.3 billion.
“It must be firmly stated that the information contained in the publication did not emanate from the Commission.
“As part of the Commission’s commitment to transparency and accountability, it will communicate its position on the transaction to the public at the appropriate time.”
