Shell-Renaissance $1.3bn deal set for regulatory approval

Shell's long-awaited $1.3 billion sale of its onshore oil and gas assets in Nigeria to the Renaissance consortium is poised to receive regulatory approval, BusinessDay can confirm. Since 2021, Shell has sought to sell its Nigerian oil and gas business, though it will remain active in Nigeria's more lucrative and less problematic offshore sector. According to the Petroleum Industry Act, the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) approval is required to proceed with the transaction. Africa Oil & Gas Report, an en