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Western oil firms reportedly not to renew operational licenses in Nigeria.
Text of report by Nigerian newspaper Daily Trust website on 21 December
[Report by Jibrin Abubakar & Mohammed Shosanya: "Western Oil Firms May Not Renew Nigerian Licences; Shell to Sell Nigeria's Oil Fields"]
Western oil companies may not renew their operational licences in Nigeria, as Royal Dutch Shell launched a shake-up of its operations in Nigeria by offering oilfields valued at $5 billion for sale.
This, according to sources is coming owing to their dissatisfaction with the handling of the oil sector by the Nigerian government. They are also concerned about how the deregulation policy will work.
While the National Assembly is said to have promised to pass the Petroleum Bill into law before the end of this month, the date for the take off of deregulation is unknown.
Royal Dutch Shell, Exxon Mobil, …
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