Indigenous oil firm Seplat is now moving towards achieving its expansion goal with more asset acquisition as the federal government appears ready to resolve the impasse that almost denied the firm a deal with ExxonMobil.
Nigerian President Muhammadu Buhari reversed his earlier authorization of Seplat Energy Plc’s $1.28-billion purchase of Exxon Mobil Corp. assets and backed the energy regulator’s decision to reject the deal, according to a spokesman.