Nigeria has approved the sale of Exxon Mobil Corp's onshore assets to Seplat Energy , the chief executive officer of the country's upstream regulator said on Monday, more than two years after the $1.28 billion deal was first agreed.

Oil majors like Shell have been gradually retreating from Nigeria's onshore operations, which have been plagued by theft and sabotage. Companies are instead opting to invest in of

Exxon Mobil Corporation XOM, the largest oil producer in the United States, has secured approval from Nigeria to sell its onshore oil and gas assets to Seplat Energy Plc, a domestic energy company. This decision ends a more than two-year delay in the $1.

Nigeria has blocked Shell's sale of its entire onshore and shallow-water oil operations, but approved a similar deal by Exxon Mobil, the country's upstream oil regulator said on Monday. Shell's asset sale for up to $2.

Nigeria has declined to approve the sale of Shell's (NYSE:SHEL) onshore and shallow-water oil and gas in the Niger Delta region to a consortium of local companies, the country's upstream regulator said Monday.