ExxonMobil Sells Stake in Nigerian Unit

Monday, October 24, 2016

ExxonMobil is selling a 60% stake in its Nigerian unit, Mobil Oil Nigeria (MON). The stake is being sold to Nipco Investments for an undisclosed amount. MON will continue to use the Mobil branding for its gas stations and lubricants.

The US supermajor will retain two upstream units in Nigeria, Mobil Producing Nigeria Unlimited and Esso Exploration and Production Nigeria Ltd.

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