The Federal Government, the
majority partner in the Oil Mining Lease (OML) 35 and 38, has denied knowledge
of plans by Chevron Corporation to sell stakes in two Nigerian oil blocks.
This declaration, may have however, swiftly heightened fears among
prospective investors in the blocks.
Chevron is, according to the Nigerian National Petroleum Corporation (NNPC),
expected to officially inform the government, which, through the NNPC owns
about 55 per cent stake in the blocks purportedly up for sale before announcing
such.
The oil major is the latest International Oil Company (IOC), operating In
Nigeria’s multi-billion dollars oil and gas industry, seeking to dispose of
assets in Africa’s biggest oil producer. Joint blocks’ owners like Royal Dutch
Shell, Italy’s Eni and France’s Total have sold several blocks.
The two newest blocks for sale also hold an unknown amount of natural gas
but there has been no production yet, Reuters reported quoting two industry
sources.
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