FG rejects Shell’s $1.3 billion oil asset sale to Renaissance Group — Report  

The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has rejected the proposed $1.3 billion sale of onshore oilfields to the Renaissance Group, citing the buyer’s lack of qualification to manage the assets, according to a Reuters report. Shell, which owns the assets via Shell Petroleum Development Company (SPDC), said it was providing …