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Bloomberg: Oando to Pay Shell $625.7 Million for Two Nigerian Oil Licenses

By Ron Derby

Feb. 25 (Bloomberg) — Oando Plc, Nigeria’s biggest retailer of petroleum products, said it will pay $625.7 million for Shell Nigeria Exploration and Production’s 49.8 percent stake in offshore licenses 125 and 134.

Oando confirmed the transaction in a statement distributed by the Stock Exchange News Service in Johannesburg today.

To contact the reporter on this story: Ron Derby in Johannesburg at [email protected]

Last Updated: February 25, 2008 05:06 EST

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