Sub-Saharan Africa Q1 2024 M&A Quarterly | Deal-making momentum continues, but can it be sustained?
Building upon increasing M&A activity in 2022, last year emerged as the most active period for M&A since the onset of COVID-19. The first quarter…
Read MoreSub-Saharan Africa Benchmarking | Africa-focused Independents in a low-carbon future
The SSA-focused independents have dominated M&A transactions on the continent, accounting for 80% of the acquisition spend disclosed in 2023. But with ESG scrutiny ramping…
Read MoreWelligence Nigeria M&A | Shell divests Nigerian onshore subsidiary in US$2.4 billion deal, pivots portfolio to deep offshore
On 16 January 2024, Shell announced it had agreed the sale of its wholly-owned subsidiary, SPDC, to Renaissance in a deal worth up to US$2.4…
Read MoreSub-Saharan Africa Q4 2023 M&A Quarterly | Deal flow slows, but is it the calm before the storm?
Two deals were announced in Q4 2023. This was a slow finish to the year but still contributed to 2023 being the most active year…
Read MoreNigeria M&A | Equinor exits Nigeria, selling entire business to Chappal Energies
On 29 November 2023, Equinor announced the sale of its Nigeria business to Chappal Energies, for an undisclosed consideration. Equinor has a 53.85% interest in…
Read MoreAOW Rumblings on the Ground | The continent sticks to its own Energy Transition script
The Welligence team attended Africa Oil Week (AOW) this year in Cape Town, South Africa. We met with multiple clients and key stakeholders focused on…
Read MoreSub-Saharan Africa Q3 2023 M&A Quarterly | Deal flow remains strong with plenty on the menu heading into 2024
Four deals were announced in Q3, two in Angola and one each in Nigeria and Gabon. Activity was driven by African-focused independents and brownfield specialists…
Read MoreOslo-listed company boosts prospects for Nigeria offshore gas project
The market analyst Welligence Energy Analytics said the deal “consolidates PetroNor’s position and simplifies the JV partnership. This will facilitate quicker decision making as the…
Read MoreExxon looks for long-term rig duo off Nigeria
Welligence vice president Obo Idornigie said partners in Owowo were planning to tie the field back to Usan FPSO, which is underutilised. “This is encouraging…
Read MoreWelligence Nigeria M&A – Oando consolidates onshore, buys out Eni from NAOC JV
On 4 September 2023, Oando announced the acquisition of Eni’s wholly-owned Nigerian subsidiary, Nigerian Agip Oil Company Ltd (NAOC), for an undisclosed consideration. NAOC has…
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