Nigeria, March 14 -- Renaissance Africa Energy Holdings, a group of foreign and Nigerian energy companies, has fully acquired the Shell Petroleum Development Company of Nigeria (SPDC).

Renaissance Africa Energy Company Limited is the new name of the company, according to a press release released on Thursday by Renaissance's spokesperson, Tony Okonedo.

The News Chronicles reported that the deal was finalized in December 2024 after regulatory approvals by the Nigerian government.

Okonedo claims that Renaissance has finished all the procedures necessary for SPDC's complete ownership transfer to the consortium, and it will now function as Renaissance Africa Energy Company Limited.

"Renaissance Africa Energy Holdings today announced that i...