Nigeria has failed to approve the sale of Shell's entire onshore and shallow-water oil and gas in the Niger Delta region to Renaissance, the country's upstream regulator said on Monday.

The Nigerian government has refused approval for Shell's sale of its onshore and shallow-water oil and gas assets in the Niger Delta to Renaissance for $2.4 billion. This decision was announced by the CEO of the Nigerian Upstream Petroleum Regulatory Commission during an event in Abuja.

The federal government has approved the sale of ExxonMobil’s onshore assets to Seplat Energy, more than two years after the

Nigeria has blocked the sale of Shell's entire onshore and shallow-water oil and gas assets in the Niger Delta, the country's upstream regulator said on Monday, roughly 10 months after the deal was announced.

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.