Nigeria, March 14 -- Renaissance Africa Energy Holdings announced that it has successfully completed the acquisition of the entire equity holding in the Shell Petroleum Development Company of Nigeria (SPDC).

The company, in a statement on Thursday, said this follows the signing of a sale and purchase agreement with Shell in January 2024, and obtaining all regulatory approvals required for the transaction.

"Renaissance Africa Energy Holdings today announced that it has successfully completed the landmark transaction between itself and Shell for the acquisition of the entire (100 per cent) equity holding in the Shell Petroleum Development Company of Nigeria (SPDC)," the statement said.

Going forward, it said SPDC will be renamed as Renai...