Renaissance to acquire Shell Nigeria for $1.3bn.

Renaissance, a consortium of five companies comprising four exploration and production companies based in Nigeria, agreed to acquire Shell Nigeria, a fossil fuel company, for $1.3bn. “This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta, simplifying our portfolio and focusing future disciplined investment in Nigeria on our Deepwater and Integrated Gas positions,” Zoë Yujnovich, Shell Integrated Gas and Upstream Director.