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ExxonMobil Corp seeks to sell 60% stake in Nigeria's Mobil Oil


Oil giant, ExxonMobil Corporation is offering its 60 per cent stake in Mobil Oil Nigeria Plc for sale.
A statement from the organisation at the weekend noted the 60 per cent stake is being sold to Nipco Plc, which is a local downstream oil and gas firm in the country.
Nipco Plc was incorporated on January 8, 2001 as a private limited liability company and was known as IPMAN Petroleum Marketing Company Limited.
However, the report added that Mobil Oil Nigeria was also incorporated as a private limited liability company in 1951 and later, converted to a public limited liability company in 1978.
Mobil Oil Nigeria’s shares were listed on the Nigerian Stock Exchange (NSE) in 1979. Mobil Oil Nigeria is a subsidiary of Mobil Oil Corporation, now ExxonMobil Corporation, which owns a 60 per cent equity stake in the company. ....

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