IOCs to exercise preemptive rights in the event of assets sale

IOCs to exercise preemptive rights in the event of assets sale
October 11, 2016 Advocaat Law Practice

Major oil multinationals operating in Nigeria will seek to exercise the right of first refusal should the government decide to sell some of their jointly held asset. The IOCs would insist on exercising their preemptive rights to buy some of the joint venture assets and NNPCs stake in NLNG in order to protect their current investments and also increase their earnings from them.