Aradel Holdings Plc is expanding its influence in Nigeria’s oil and gas sector.
Through its subsidiary, Aradel Energy Limited, it will acquire a 40% stake in ND Western from Petrolin Trading Ltd.
Aradel Holdings Expands Control
Consequently, Aradel will increase its current 41.67% holding to 81.67%, securing a commanding role in the company.
Aradel will also gain control of ND Western’s 45% interest in OML 34, a producing Oil Mining Lease in the Niger Delta.
Strategic Assets in Focus
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This licence contains significant crude oil and gas reserves, contributing directly to Nigeria’s domestic energy supply and exports.
In addition, ND Western owns 50% of Renaissance Africa Energy Holding, the parent of the Renaissance Joint Venture, further strengthening Aradel’s strategic footprint.
Pending Regulatory Approvals
The company must first obtain approvals from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Competition and Consumer Protection Commission (FCCPC), and ministerial consent before completing the acquisition.
With this decisive move, Aradel consolidates control over some of Nigeria’s most valuable oil assets, positioning itself as a dominant energy player.
