Following the completion of the acquisition of ExxonMobil’s 60 per cent equity stake in Mobil Oil Nigeria Plc, Nipco Plc has said it will change the name of MON to 11Plc while retaining the Mobil brand. Nipco, an indigenous Nigerian downstream oil and gas company, said in October 2016 that it had been selected by the United States-based oil major as the preferred bidder for the acquisition of the majority stake.

Source: Punch