We have not accepted Shell’s bid to sell its onshore assets to Renaissance-NUPRC

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has refuted a media report that it has accepted Shell International Plc’s bid to sell its onshore assets to Renaissance in a transaction worth $1.3 billion.

This was made known in a statement signed by Mrs Olaide Shonola,

Head, Public Affairs and Corporate Communication, NUPRC and made available to Daily Champion

According to the statement ‘’The attention of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been drawn to a publication in the BusinessDay of September 11, 2024, 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.

‘’Industry stakeholders and the general public are advised to disregard the publication as it is baseless.’’ The statement reads.