Wednesday 12 November 2014

NNPC HALTS SALE OF SHELL’S OIL BLOCK TO CRESTSTAR

223-Diezani-Alison-Madueke.jpg - 223-Diezani-Alison-Madueke.jpgThe year-long process by Shell Petroleum Development Company (SPDC) and its joint venture partners to divest some of their onshore assets has run into a hitch, as the Nigerian National Petroleum Corporation (NNPC) has moved to stop the sale of Oil Mining Lease (OML) 25 to Creststar consortium.

Under the latest divestment programme, Royal Dutch Shell had concluded the sale of OMLS 18, 24, 25 and 29, in addition to the Nembe Creek Trunk Line (NCTL), following a 2013 review of its business in the country.

Read more @ Thisday Live

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