Upstream Operations: Lists Conditions for oil Majors’ Divestment

As oil majors unveil their divestment plans in Nigeria, in line with the energy transition agenda, Nigerian National Petroleum Corporation (NNPC), listed conditions for their exit plans to be granted.

According to NNPC, special attention would be paid to abandonment and relinquishment costs; severance of operator staff; ETC and financial capabilities especially in era of activist investor’s sentiments against funding of fossil fuel projects and alignment with Nigeria national strategic interest.