Nigeria’s oil regulator reportedly started the evaluation of Shell plc (NYSE:SHEL) divestment of its 75-year-old Nigerian onshore subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance, a consortium of five companies. Gbenga Komolafe, the chief executive of the Nigerian Upstream Petroleum Regulatory Commission at the start of the exercise, commented that, “Our goal is clear at this due diligence meeting: to identify successor who not only possesses the requisite financial resources but also demonstrates the ...