Nigeria’s oil regulator said Thursday it approved TotalEnergies’ (NYSE:TTE) $510 million agreement to sell its entire 12.5% in oil mining lease 118 to Shell (SHEL) and Agip.
TotalEnergies (NYSE:TTE) will transfer 10% of its interest to Shell (SHEL) at a cost of $408 million while Agip will pay $102 million for the remaining 2.5%, the Nigerian Upstream Petroleum Regulatory Commission, according to Reuters.
However, the regulator pulled its approval for TotalEnergies’ (TTE) $860 million asset sale to Mauritius-based Chappal Energies because the two sides had not met financial commitments required to complete the deal.
