The Nigerian National Petroleum Company Limited has begun moves to sell stakes in some of its oil and gas assets, a new report by Reuters has revealed. This is as the state-owned energy firm seeks to optimise its portfolio and attract fresh investment into the sector. An invitation document released on Monday indicated that the national oil company has solicited bids from interested investors, although it did not disclose the size of the stakes on offer or the amount it aims to raise from the exercise. The report read, “The Nigerian National Petroleum Company Limited, the state-owned energy company of top African oil producer Nigeria, plans to sell stakes in some of its oil and gas assets and has called for bids.” NNPC holds interests in several oil and gas assets, some of which it owns outright, while others are operated in partnership with international oil companies, including Shell, Chevron, Eni, and TotalEnergies. According to the document, which was circulated late last week, prospective bidders are required to register online by January 10. This will be followed by a pre-screening process, after which qualified firms will be granted access to a secure virtual data room containing detailed information on the assets.

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